“ Mr Costello said the Queensland government "should be ruling out up-front, clearly" the prospect of Chow
Tai Fook lifting its stake in the Brisbane casino. Another source said Star's minimum fee was $40 million a
year for 50 years, a "staggering amount of money for a second-tier city like Brisbane" but
based on the idea the casino would lure wealthy Chinese gamblers.
Star has been seeking a financial lifeline in recent months, after revealing its cash reserves
sank to just $79 million at the end of 2024.
Industry sources familiar with the talks told the ABC a sticking point was
the fee that casino owners had to pay Star for running Queen's Wharf.
The deal would see Star give up assets, including its 50 per cent stake
in the $3.6 billion Queen's Wharf casino complex, and the Treasury car park and hotel.
Brisbane's resort and casino precinct Queen's Wharf has faced financial woes.
He said he would not like to see the company go into liquidation "for the people's sake".
Bruce Mathieson, who operates poker machine and pub empire
Australian Liquor and Hospitality with Woolworths, holds about a
10 per cent share in Star and has been interested in buying the Gold Coast casino.
Earlier this month Star confirmed its partners in the Queen's
Wharf facility — Chow Tai Fook Enterprises (CTF) and Far East Consortium (FEC) — have offered to buy
out its share. ”