Star Entertainment has reached a deal to relinquish its 50% stake in Brisbane's Queen's Wharf casino to its partners in exchange for $53 million and stakes in nearby hotels, subject to regulatory approval.
Target Information
Star Entertainment Group is a significant player in the gambling sector, notably in Brisbane, Australia, where it is involved in the development of the Queen's Wharf casino precinct. The company has recently entered into a deal with its joint venture partners, Chow Tai Fook Enterprises (CTFE) and Far East Consortium, regarding its ownership stake in the financial struggling Queen's Wharf project. This arrangement is crucial as Star Entertainment has had to navigate a financial crisis, exacerbated by regulatory inquiries and challenges within the gaming industry.
The deal entails Star relinquishing its 50% stake in the $3.6 billion Queen's Wharf casino complex, alongside its interests in the Treasury car park and hotel. In exchange, Star is set to receive a financial bolstering of $53 million and interests in several hotels located in the Gold Coast area, which is expected to provide a more stable financial footing amid its current challenges.
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Industry Overview
The gambling industry in Australia, particularly in Queensland, has experienced significant changes and challenges in recent years. Regulatory scrutiny has intensified following concerns over responsible gambling pra
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Chow Tai Fook Enterprises and Far East Consortium
invested in
Queen's Wharf casino complex
in 2025
in a Buyout deal
Disclosed details
Transaction Size: $53M
Enterprise Value: $3,600M
Equity Value: $1,800M