• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 4 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Star’s Hong Kong partners terminate deal to acquire 100% of Queen’s Wharf Brisbane

Ben Blaschke by Ben Blaschke
Mon 30 Jun 2025 at 13:40
Star celebrates long-awaited opening of AU$3.6 billion Queen’s Wharf Brisbane development

The Star Brisbane opened in August

59
SHARES
1.5k
VIEWS
Print Friendly, PDF & Email

Star Entertainment Group’s Hong Kong partners, Chow Tai Fook Enterprises Limited and Far East Consortium International Limited, have given notice of their intention to terminate an agreement that would have seen them acquire a combined 100% stake in the Queen’s Wharf Brisbane development – now known as The Star Brisbane.

Star currently holds a 50% stake in the integrated resort with Chow Tai Fook and Far East Consortium holding 25% each as part of the Destination Brisbane Consortium (DBC) joint venture.

Just days after Star shareholders approved an AU$300 million rescue package from US casino operator Bally’s Corp and Bruce Mathieson’s Investment Holdings Pty Ltd, the company revealed that it has now received notice from its Hong Kong partners that they wish to terminate the Heads of Agreement (HOA) signed in regard to The Star Brisbane in March. The termination will become effective next Monday 7 July.

Star said in an ASX filing that the parties had been unable to enter long form documents by the required date, having failed to reach an agreement on commercial issues despite ongoing negotiations in recent weeks.

However, it added, “Despite the receipt of this notice, The Star remains willing to continue negotiations with the Joint Venture Partners to give effect to the DBC transaction.”

In a filing of its own with the Hong Kong Stock Exchange, Far East Consortium said that, upon termination of the HOA, the parties are required to be restored to the position they were in immediately prior to entry into the HOA. This is to include Star repaying to its joint venture partners AU$10 million no later than 30 days after the termination date. If the amount is not repaid, Star will be required to instead transfer its 33.3% in one of the hotel towers at The Star Brisbane – Dorsett – to the joint venture partners. The partners will also no longer be required to make the AU$8 million third tranche of a balancing payment to Star.

The original HOA signed in March was to have seen Chow Tai Fook and Far East Consortium acquire Star’s 50% stake in The Star Brisbane as well as its share of outstanding debt, with Star to continue operating the casino under an initially short-term management agreement.

Star was to subsequently acquire its joint venture partners’ interests in two hotel and residential towers – Dorsett and the soon-to-open Andaz – at The Star Gold Coast, lifting its current 33.3% interest in each tower to full ownership.

While that deal now looks dead in the water, Star did confirm Monday that it has now received AU$58 million formerly being held in escrow following the recent sale of The Star Sydney Event Centre plus another AU$133 million from Bally’s Corp and Investment Holdings. Both payments had been conditional on shareholders approving the rescue package that will see Bally’s and Investment Holdings issued convertible notes for a combined 57% stake in Star.

Inside Asian Gaming this week spoke with Bally’s chair Soo Kim about the shareholder vote, with the veteran executive promising that he won’t let stakeholders down in helping turn the company’s fortunes around.

RelatedPosts

The Star Sydney’s casino license in limbo as final report from second inquiry handed to regulator

Son of Star’s largest shareholder joins Star Entertainment Group board as non-executive director

Sun 31 Aug 2025 at 09:16
Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Star Entertainment Group falls to AU$471.5 million loss in FY25 as remediation, regulatory hurdles continue to bite

Fri 29 Aug 2025 at 07:38
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
Crown Resorts found suitable to retain Melbourne casino license but China investigation ongoing

Crown Melbourne given two-year extension to deadline for implementation of mandatory carded play across table games

Thu 28 Aug 2025 at 06:47
Load More
Tags: AustraliaBally's CorpChow Tai FookDestination Brisbane ConsortiumFar East ConsortiumQueen's wharf brisbaneStar Entertainment GroupThe Star Brisbane
Share24Share4
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR

Related Posts

NUSTAR joins Brigada Eskwela 2025 to Support local kindergarten students

NUSTAR joins Brigada Eskwela 2025 to Support local kindergarten students

by Newsdesk
Wed 3 Sep 2025 at 16:46

As part of its commitment to uplifting communities through meaningful service, NUSTAR Resort & Casino Cebu participated in this year’s Brigada Eskwela 2025 with an outreach activity held on 8 August at Vicenta A. Manreal Elementary School in Pooc, Talisay...

Ng Wai Han named as first ever female director of Macau’s gaming regulator

Staffing ratio of locals within Macau’s gaming industry in focus as DICJ promotes two more department heads from Labour Affairs Bureau

by Pierce Chan
Wed 3 Sep 2025 at 14:26

According to the Official Gazette of the Macao SAR Government, three departmental heads at the Gaming Inspection and Coordination Bureau (DICJ) have recently been replaced. Two of the newly appointed directors previously served for many years at the Labour Affairs...

Deliver premium live casino experiences that boost revenue

Deliver premium live casino experiences that boost revenue

by Newsdesk
Wed 3 Sep 2025 at 11:53

For online casino operators and live studios, understanding the key components of an exceptional player experience is crucial for standing out in a competitive market. By blending immersive streaming environments with interactive social features, you create an engaging and personalized...

IAG announces Studio City’s Blind Tiger at W Hotel as Venue for Macau After Dark 24 on Thursday 29 August 2024

Moody’s: Melco to significantly reduce leverage through end-2026 on solid revenue growth, profitability

by Ben Blaschke
Wed 3 Sep 2025 at 06:29

Macau’s Melco Resorts & Entertainment is expected to reduce its operating leverage, calculated as Adjusted DEBT/EBITDA, from around 6.7x as of 30 June 2025 to around 5.4x in 2026 due to a continued increase in its revenues and profits. The...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English