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The future of two regional casino licences, one at Yorkeys Knob near Cairns and one
on the Gold Coast, are yet to be decided. As well
as the new Ritz-Carlton the core development area comprises four other
internationally-recognised hotel brands; The $2 billion development include five new hotels, scores
of restaurants and bars, 2,500 apartments, public spaces and, the company emphasises, just one gaming mecca.
International education was worth $36.4 billion to the Australian economy in the 2023
financial year, with $14.6 billion paid as tuition fees.
Pending the passing of legislation, it will set a National Planning Level for new
international student commencements of 270,000 for calendar year
2025. The Australian government late last month announced new caps on international
student numbers.
As part of the agreement, Star would keep the rights to operate the casino.
“(The) investigations uncovered systemic issues where Star allegedly put profit ahead of proper checks on high-roller funds.” Then came two years of pandemic
lockdowns, major flooding, and an outbreak of mould — to name but a few issues —
which added hundreds of millions to the price tag and many months to the timeline.
Brisbane’s resort and casino precinct Queen’s Wharf opened in August 2024
but faced financial woes before and after.
The future of Brisbane is bright, and the time to act is now.

With the decision now made, Mr De Lacy said work will now need to be done to attract the Asian tourism market to Brisbane.
Former Goss Government treasure Keith DeLacy approved
the Treasury Casino license. Mr De Lacy said the government would have
been lumped with the Treasury building if Mr Packer’s bid
had been approved. A former Queensland Labor treasurer, who granted the first casino licence in Brisbane, believes the
city would never have supported two casinos if James Packer’s bid had
been approved. The offer, contingent on regulatory approval, grants
Bally’s effective veto rights over any significant changes to the original sale agreement.
Alternatives under consideration reportedly include SkyCity Entertainment and U.S.-based Delaware North.

The company’s chequered history includes a role in a failed
Australian casino bid with discredited gambling tycoon Stanley Ho and interests in his companies, which have been blacklisted in New South Wales.
It will be well-connected to Brisbane’s extensive public
transport network including bus, train, and ferry services, as
well as future planned infrastructure. The papers covered The Star
Sydney’s eligibility to retain its casino license, the progress made
by its remediation plan, a strategy proposal aimed at resolving its financial
problems, and the company’s current financial standing.

The development in the Queensland capital encompasses the adaptive reuse of a number of heritage-listed government buildings including the former Treasury Building, the
former Land Administration building, and the former
state library. ASIC has accused them of not paying sufficient attention to the risks of
money laundering and criminal association that have financially crippled the casino
operator with massive fines and gambling restrictions on its pokies.
Star Entertainment was suspended from trading by the ASX on Monday over
its failure to lodge financial statements for the December half-year.
The agreement, first reported in The Australian Financial Review, is
still subject to approval from Star’s regulators and lenders,
according to Far East. Star Entertainment has managed to
avoid financial collapse for now after signing a deal to sell its stake in Brisbane’s Queen’s
Wharf casino to its two equity partners along with other assets.
“Since the recent general meeting, the parties have continued to negotiate with a view to finalising the long form documents but, as of this morning, have not reached an agreement on the outstanding commercial issues,” Star Entertainment said last week.
Star Entertainment today announced to shareholders that it has narrowly avoided the collapse of plans to
sell its stake in the $4bn Queen’s Wharf hotel and casino complex known as Destination Brisbane
Consortium.
The financial impact of QWB will extend to the real estate
market, creating lucrative opportunities for buyers, sellers, and investors.
The Queen’s Wharf Brisbane (QWB) development is not just a landmark project for Brisbane’s skyline—it’s a
multi-billion-dollar economic engine that will generate significant financial benefits
for the city, its residents, and investors. The impairment pulled Multiplex’s net after-tax loss to $219.5 million last calendar year from $34.6 million, even as revenue jumped by one-third to $4 billion, the Sydney-based company revealed
in financial documents lodged with corporate
regulator ASIC last week.
“On that basis, the investigation did not substantiate any motive for CTFE to intentionally conceal that business association from OLGR.” Ten months before
Chow Tai Fook moved to cut ties with Alvin Chau,
a NSW casino inquiry declared he was “clearly” linked with organised crime groups.
“The investigation found insufficient evidence that a historical business association between Mr Ao Ieong and Wan Kuok Koi (Broken Tooth) had continued past 2012,” an OLGR
spokeswoman said. “Broken Tooth” Koi was sanctioned by the US in 2017 for
his role in organised crime across Asia and the Pacific, including bribery, corruption and
misappropriation of state assets.
Griffith University is committed to preserving the heritage
nature of the building while equipping it for the future needs of education. “With its rich history, this building has always fascinated visitors and will now continue to be enjoyed by the public well into the future.” “As a neighbour just up the street at The Star Brisbane at Queen’s Wharf, it will be exciting to watch the story of the Treasury Building evolve, continuing to provide unique experiences and memories for future generations.”

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