Construction pressures delay Star Queen’s Wharf project again
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Troubled Australian casino operator Star Entertainment Group’s $3.6bn integrated resort development Queen’s Wharf Brisbane has been delayed for the fourth time in 18 months.
Star announced the news via an ASX release after its partly owned subsidiary Destination Brisbane Consortium (DBC) advised that the Queen’s Wharf project is likely to open its doors in April 2024, as opposed to late 2023 as the business initially planned.
“The revised opening date follows careful consideration of current progress by our builder,” said CEO and managing director Robbie Cooke.
“Queen’s Wharf has not been immune from the types of pressures that other major infrastructure projects across Australia have encountered.”
“We are disappointed, but this transformational development for Brisbane has been eight years in the making already, and it will be well worth the wait.
“Queen’s Wharf will be a game-changer for a city that continues to attract the eyes of the world as we charge towards the 2032 Olympic and Paralympic Games.”
Queen’s Wharf development
Star have projected the Brisbane river development to attract 1.39 million visitors per year. Following its completion, the location will include over 50 new cafes and bars, as well as a 1,500 seat ballroom.
DBC is a privately owned and operated joint venture between Star and its partners Hong Kong-based property developer Far East Consortium and holding company Chow Tai Fook Enterprises.
In 2022, the Australian Broadcast Corporation accused Chow Tai Fook of links with Chinese organised crime.
Star has a 50% stake in the project, while its two Asian partners own each 25%.
In April, the casino operator said it would be undergoing new cost and restructuring initiatives. This resulted from a “significant and rapid deterioration in operating conditions”.
Star has been the subject of a number of parliamentary inquiries into its conduct.
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