Just days after the grand opening of the $3.6 billion Queen’s Wharf precinct, casino operator Star Entertainment is seeking tax relief from the Queensland government. The company is reportedly in urgent need of $300 million in short-term funding to continue operations at the newly launched 12-hectare development in Brisbane’s CBD. The phased opening, which began on 29 August, has created 3,000 jobs, including 1,400 new positions.
Queensland Premier Steven Miles acknowledged the gravity of the situation, stating that the closure of the precinct so soon after its opening would be a “worst-case scenario.” He stated that the state government is exploring options, including tax deferrals, to prevent this outcome. Miles highlighted the importance of the Queen’s Wharf project, describing it as a significant asset for Brisbane, a major job generator, and a key component of the city’s plans leading up to the Brisbane 2032 Olympics.
Star Entertainment, which also operates casinos in the Gold Coast and Sydney, has been facing significant financial difficulties.
The company’s CEO, Steve McCann, is also seeking financial assistance from the New South Wales government. However, NSW officials have declined to offer further support, arguing that any aid would primarily benefit Star’s Queensland operations, a stance that has drawn criticism from Premier Miles. He expressed disappointment, noting that Star is a vital employer in Sydney as well.
Star faces ongoing regulatory issues
The situation for Star Entertainment has been further complicated by regulatory challenges. The company’s Sydney casino licence remains suspended after an inquiry uncovered serious breaches related to anti-money laundering and counter-terrorism measures. In Queensland, Star’s casino licences have been under threat since an independent review in 2022 deemed the company unfit to hold them. Despite these issues, Queensland’s gambling regulator approved the Queen’s Wharf casino license just two days before the release of a damning report from the NSW Independent Casino Commission, which reiterated that Star is still unfit to hold a casino license in Sydney.
Apart from these challenges, the Queensland government has been criticised for allegedly helping to block the release of a probity report on Chow Tai Fook Enterprises, Star’s joint venture partner in the Queen’s Wharf project. Deputy Opposition Leader Jarrod Bleijie raised concerns about transparency, accountability, and the welfare of staff, accusing the government of supporting Chow Tai Fook’s legal efforts to keep the report from public view.
This article is based on news by the Australian Associated Press today.
