Australia 2nd Largest Casino Group Star Entertainment Planned 50% Sale of $2.3 Billion Brisbane Resort Deal Canceled after Failing to Reach Agreement with Hong Kong Investors (Far East Consortium & Chow Tai Fook Enterprise) and Required to Repay $26.5 Million (AUD 41 Million)
2nd August | Hong Kong
Australia 2nd largest casino group Star Entertainment planned 50% sale of $1.2 billion Brisbane Resort deal has been canceled after failing to reach agreement with Hong Kong investors (Far East Consortium & Chow Tai Fook Enterprise), and required to repay $26.5 million (AUD 41 million). In 2025 June, Australia 2nd largest casino group Star Entertainment shareholders (98%) approved the $195 million (AUD 300 million) rescue package led by United States casino firm Bally Corp & Star Entertainment largest shareholder Mathieson family. In 2025 June, Australia distressed casino group Star Entertainment is facing a $260 million money laundering fine, and had issued receipts for hotel rooms costing $163,000 per night (AUD 250,000) to China citizens to help avoid capital control on outbound currency conversion with the funds diverted for casino gambling. In 2025 March, Hong Kong billionaire Henry Ng Chow Tai Fook Enterprises & Far East Consortium joint venture announced to buy Brisbane casino & resort (Queen’s Wharf Brisbane) for $33 million (AUD 53 million) from distressed Australia Star Entertainment, whose shares is suspended on Australian Stock Exchange (ASX). Profile – The Star Entertainment Group is an ASX-listed company that owns and operates The Star Sydney, The Star Gold Coast and Treasury Brisbane. The Star Entertainment Group also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government. The Star Entertainment Group is committed to optimising its properties, supporting the communities in which we operate, and capitalising on the opportunities presented by our world-class locations in Sydney, Brisbane and on the Gold Coast. The Star Entertainment Group’s purpose, to create fun at trusted destinations, is underpinned by multi-billion-dollar transformational projects planned or in progress across its properties. The Star Entertainment Group and its joint venture partners Chow Tai Fook Enterprises and Far East Consortium are developing the $3.6 billion Queen’s Wharf Brisbane precinct. Expected to commence a staged opening from August 2024, Queen’s Wharf and The Star Brisbane will deliver transformational impacts on Queensland jobs, training and tourism, both domestic and international. The Star Gold Coast has undergone an extraordinary $850 million transformation since 2014 including the opening of all-suite luxury hotel The Darling, redeveloped the 5-star The Star Grand and construction of the internationally-acclaimed Dorsett hotel and The Star Residences , which opened in December 2021. On 2 November 2018, the Queensland Government approved The Star Gold Coast’s expanded $2 billion-plus master plan. If fully delivered, the master plan will add four additional hotel and apartment towers, including world-class resort and entertainment facilities, new dining precincts, a luxury day spa and wellness centre and tropical recreation areas. In July 2022, the NSW Government delivered an update to the Pyrmont Peninsula Place Strategy (first released in December 2020) to map out future growth in the local area and how it relates to the local community, local businesses, tourism and entertainment. The plan includes provisions for construction of a 105 metre, luxury six-star hotel, two new theatres – including an 1550-seat Broadway style venue and new rooftop dining at The Star Sydney’s site.
“ Australia 2nd Largest Casino Group Star Entertainment Planned 50% Sale of $2.3 Billion Brisbane Resort Deal Canceled after Failing to Reach Agreement with Hong Kong Investors (Far East Consortium & Chow Tai Fook Enterprise) and Required to Repay $26.5 Million (AUD 41 Million) “
Australia 2nd Largest Casino Group Star Entertainment Shareholders Approve $195 Million (AUD 300 Million) Rescue Package Led by United States Casino Firm Bally Corp & Star Entertainment Largest Shareholder Mathieson Family
28th June – Australia 2nd largest casino group Star Entertainment shareholders (98%) have approved the $195 million (AUD 300 million) rescue package led by United States casino firm Bally Corp & Star Entertainment largest shareholder Mathieson family. In 2025 June, Australia distressed casino group Star Entertainment is facing a $260 million money laundering fine, and had issued receipts for hotel rooms costing $163,000 per night (AUD 250,000) to China citizens to help avoid capital control on outbound currency conversion with the funds diverted for casino gambling. In 2025 March, Hong Kong billionaire Henry Ng Chow Tai Fook Enterprises & Far East Consortium joint venture announced to buy Brisbane casino & resort (Queen’s Wharf Brisbane) for $33 million (AUD 53 million) from distressed Australia Star Entertainment, whose shares is suspended on Australian Stock Exchange (ASX). Profile – The Star Entertainment Group is an ASX-listed company that owns and operates The Star Sydney, The Star Gold Coast and Treasury Brisbane. The Star Entertainment Group also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government. The Star Entertainment Group is committed to optimising its properties, supporting the communities in which we operate, and capitalising on the opportunities presented by our world-class locations in Sydney, Brisbane and on the Gold Coast. The Star Entertainment Group’s purpose, to create fun at trusted destinations, is underpinned by multi-billion-dollar transformational projects planned or in progress across its properties. The Star Entertainment Group and its joint venture partners Chow Tai Fook Enterprises and Far East Consortium are developing the $3.6 billion Queen’s Wharf Brisbane precinct. Expected to commence a staged opening from August 2024, Queen’s Wharf and The Star Brisbane will deliver transformational impacts on Queensland jobs, training and tourism, both domestic and international. The Star Gold Coast has undergone an extraordinary $850 million transformation since 2014 including the opening of all-suite luxury hotel The Darling, redeveloped the 5-star The Star Grand and construction of the internationally-acclaimed Dorsett hotel and The Star Residences , which opened in December 2021. On 2 November 2018, the Queensland Government approved The Star Gold Coast’s expanded $2 billion-plus master plan. If fully delivered, the master plan will add four additional hotel and apartment towers, including world-class resort and entertainment facilities, new dining precincts, a luxury day spa and wellness centre and tropical recreation areas. In July 2022, the NSW Government delivered an update to the Pyrmont Peninsula Place Strategy (first released in December 2020) to map out future growth in the local area and how it relates to the local community, local businesses, tourism and entertainment. The plan includes provisions for construction of a 105 metre, luxury six-star hotel, two new theatres – including an 1550-seat Broadway style venue and new rooftop dining at The Star Sydney’s site.
Australia Distressed Casino Group Star Entertainment Faces $260 Million Money Laundering Fine & Issued Receipts for Hotel Rooms Costing $163,000 Per Night (AUD 250,000) to China Citizens to Help Avoid Capital Control on Outbound Currency Conversion with Funds Diverted for Casino Gambling
10th June – Australia distressed casino group Star Entertainment is facing a $260 million money laundering fine, and had issued receipts for hotel rooms costing $163,000 per night (AUD 250,000) to China citizens to help avoid capital control on outbound currency conversion with the funds diverted for casino gambling. In 2025 March, Hong Kong billionaire Henry Ng Chow Tai Fook Enterprises & Far East Consortium joint venture announced to buy Brisbane casino & resort (Queen’s Wharf Brisbane) for $33 million (AUD 53 million) from distressed Australia Star Entertainment, whose shares is suspended on Australian Stock Exchange (ASX).
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