Star Entertainment has executed binding documentation with joint venture partners Chow Tai Fook Enterprises and Far East Consortium International to dispose of its interest in the Destination Brisbane Consortium (DBC), owner of Queen’s Wharf in Brisbane. This marks a significant shift in the company’s Queensland operations, as management of the Brisbane venue will transition to a new operator, ending The Star’s direct involvement. The Star Entertainment Group operates casinos and entertainment facilities. The company aims to provide unique experiences to its guests through a range of services.
Concurrently, The Star will consolidate its position on the Gold Coast through the Destination Gold Coast Consortium (DGCC) and transfer other Brisbane assets to the joint venture partners. This binding long-form documentation supersedes the heads of agreement signed in March, maintaining material consistency with the previous terms but establishing a firmer framework for completion. The transaction is structured in two stages.
The initial phase involves exiting DBC, with a sunset date of November 30. The subsequent stage covers the transfer of remaining assets, including DGCC and The Treasury Hotel in Brisbane, with completion expected in the second half of calendar year 2026.
Both phases are subject to conditions such as regulatory approvals, lender consents, and necessary amendments to existing financing arrangements. The Star has also secured the support of its subordinated lenders, Bally’s Corporation and Investment Holdings, in facilitating this strategic realignment of its Queensland assets.
