The $3 billion development on the Queen’s Wharf in Brisbane will begin selling apartments related to the project in the 2019 financial year, local media reports.
The IR is a venture between Star Entertainment and Asian investors including Far East Consortium.
It is expected that the Queen’s Wharf apartments will launch on to the market after a lull in high-rise development in the city centre.
Queen’s Wharf development will have three residential towers, comprising about 2000 apartments, spread across the 13ha riverside casino and leisure precinct.
From India to Australia, casinos across the Asia Pacific region have closed their doors in response to efforts to combat the spread of the coronavirus, with little to no visibility at present as to the evolution of the situation.
Star Entertainment Group has announced that, in accordance with directives from the New South Wales state government, tighter social distancing and other measures have been reinstituted at Star Sydney.
Star Entertainment Group’s newest development the Queens Wharf casino and entertainment complex will be geared towards attracting luxury tourists rather than high-rollers when it opens in 2022, according to chief executive officer Matt Bekier.
Australia's Star Entertainment has won an award for the world's most sustainable gaming and casino operator at an event in London. The Industry Community Awards ceremony was hosted digitally and gave recognition to casino and gaming companies from around the globe.
The Star Gold Coast is celebrating its 35th anniversary since opening, with Gaming Operations Manager Steve Hennessey reflecting on the changes in the industry and highlighting how advances in technology have facilitated casino management.
Chairman of the Star Entertainment Group John O’Neill told the Future Gold Coast Forum that industries are in desperate need of certainty from the Queensland state government in regard to rules to guide when borders will reopen.
The Star Entertainment Group announced its properties in Queensland and New South Wales will be smoke-free indoor environments by the end of 2022.
J.P. Morgan said it has raised its FY21 estimate for Star Entertainment Group's EBITDA by 10.7 percent due to stronger revenue from Queensland and better margins. However, it has downgraded the stock from overweight to neutral with a price target of A$3.50.
Credit Suisse believe it's time to examine the possibility of a Crown-Star tie up in light of both companies' reduced revenue from the pandemic and China's clampdown on overseas gambling activities.
The Star Entertainment Group is planning a second development application at its waterfront site in the Sydney suburb of Pyrmont, this time for a two-tower, six-star hotel that would cost approximately A$1 billion (US$720 million).