The Star Brisbane set to open in phased launch starting August 29

Jenny Ortiz July 1, 2024

SiGMA news

The Star Brisbane set to open in phased launch starting August 29

Australian gaming giant, The Star Entertainment Group, has announced the opening of its latest venture, The Star Brisbane, commencing on August 29. This much-anticipated unveiling is part of the expansive Queen’s Wharf Brisbane project, a collaboration with Hong Kong-listed conglomerates Far East Consortium and Chow Tai Fook. The total investment for this project is approximately AUD3.6 billion (€2.23 billion), with various segments set to debut throughout the remainder of 2024.

The initial phase of The Star Brisbane includes the opening of the Sky Deck, Miller Park, and the Neville Bonner Bridge, which will link Queen’s Wharf to Southbank. Additionally, the complex will feature an Event Center and the five-star Star Grand hotel, with bookings opening soon. CEO Daniel Finch emphasised that not all facilities will be operational from day one, promising guests a series of new experiences with each visit as more features become available over time.

The phased opening strategy

The Star Brisbane’s phased opening strategy ensures thorough preparation and testing of its facilities. Finch stated the company want to ensure team members are prepared, facilities have been tested, processes are right, and guests have an exceptional experience.

Queen’s Wharf Brisbane represents a significant joint venture, designed to rejuvenate the previously underutilized 12 hectares along Brisbane’s riverfront. The development will progressively introduce a mix of restaurants, bars, public spaces, and other attractions. The project has faced multiple delays but is now set to open from late August into September and beyond progressively.

Gaming and hospitality offerings

The Star Brisbane is authorised to operate up to 2,500 gaming machines, although the exact number available at launch will be determined by the casino operator. The number of table games will also be regulated based on the approved gaming floor area. Meanwhile, the existing Treasury Casino in Brisbane’s central business district will remain operational during the transition period before relocating to the new complex.

Regulatory challenges and prospects

The Star Entertainment Group has navigated significant regulatory challenges, including an inquiry into its suitability to operate its Sydney casino and penalties related to anti-money laundering and counter-terrorism financing failings. Despite these issues, the Queensland authorities recently affirmed that Hong Kong-based Chow Tai Fook Enterprises, a 25 percent investor in the Queen’s Wharf Brisbane project, is suitable for the partnership.

Financial outlook

Meanwhile, the Star Entertainment Group anticipates lower sequential revenue for the quarter ending June 30, attributed to declining premium customer revenue, a sluggish economic environment, and ongoing remediation expenses. The group projects its fiscal year revenue to range between AUD1.11 billion (€687.9 million) and AUD1.12 billion (€694 million). Despite these financial challenges, the opening of The Star Brisbane is expected to bolster the company’s portfolio and contribute to long-term growth.

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