Deal triggers USD 213M payment
Star Entertainment gets Brisbane casino license
Star Entertainment, the operator of Sydney’s Star, Jupiters on the Gold Coast and Treasury Casino in Brisbane, has been formally granted a new casino license for Queen’s Wharf Brisbane.
2016-10-14
Reading time 29 seg
Star Entertainment, the operator of Sydney’s Star, Jupiters on the Gold Coast and Treasury Casino in Brisbane, has been formally granted a new casino license for Queen’s Wharf Brisbane.
The issuing of the license, for a joint venture of which Star has a 50% interest, triggers a $213 million payment to the Queensland Government.
Star’s share is $77 million, which is expected to be paid by October 27.
A consortium last year closed a deal for the $3 billion Queen’s Wharf Brisbane Integrated Resort Development, a major hotel, casino and residential complex.
The Destination Brisbane Consortium — the Star Entertainment Group (formerly Echo Entertainment), Far East Consortium (Australia) and Chow Tai Fook Enterprises — is the contractor responsible for delivering the project.
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