The Star Entertainment has executed binding long-form documentation with its joint venture partners, Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC), to proceed with a major restructuring of its assets in Queensland, Australia.
The complex deal involves The Star Entertainment exiting its stake in the Queen’s Wharf Brisbane integrated resort project in exchange for assuming full ownership and control of key hotel and development assets on the Gold Coast.
Under the terms of the agreement, The Star will dispose of its 50% interest in the Destination Brisbane Consortium (DBC), the entity that owns the Queen’s Wharf Brisbane resort.
In exchange for relinquishing its role in the Brisbane project, The Star will take full ownership of the hotels within the Destination Gold Coast Consortium (DGCC) and, crucially, will obtain exclusive rights for all future development projects at its Gold Coast properties.
This strategic swap allows The Star to consolidate its focus and capital on the Gold Coast precinct.
The transaction is scheduled to be completed in two stages: the first, covering the exit from the Brisbane consortium, is targeted for completion by November 30, 2025, while the second stage, involving the Gold Coast and Treasury Brisbane assets, is expected to close in the second half of 2026.
A key financial benefit of this restructuring is the removal of The Star’s obligation to fund future equity contributions to the Queen’s Wharf Brisbane development, which were previously estimated to be more than $200 million.
This move is designed to de-risk the company’s balance sheet and provide greater financial certainty. The new binding agreements supersede a previous Heads of Agreement from August 1, 2025, but retain the essential commercial terms that were announced earlier in the year.
The deal has received the necessary consent from The Star’s subordinated lenders, Bally’s Corporation and Investment Holdings.
This follows shareholder approval in late June 2025 for a AU$300 million investment from these same partners, signaling a coordinated effort to strengthen the company’s capital position and support its long-term strategic goals.
