Good morning. The much-awaited Queen’s Wharf Brisbane has finally opened its doors. The company celebrated the landmark opening of the multi-billion dollar property while still on tenterhooks about what might happen regarding its suitability to maintain its casino licenses. Meanwhile, Genting Malaysia saw a strong second quarter, with revenue increases across all of its segments. Resorts World Genting continued to be a major driver, with rises in both gaming and non-gaming.
What you need to know
- The $2.5B Queen’s Wharf Brisbane opened its doors on Thursday despite ongoing concerns about The Star’s casino licensing.
- Genting Malaysia has seen a strong second quarter, with increases across all its segments, and continued footfall at Resorts World Genting.
On the radar
- Shun Tak’s gaming investment generates a profit of $6.5M in 1H24.
- SJM sees positive EBITDA for satellite casinos for first time since pandemic.
- Macau’s hotels see decline in guests in July despite rising visitor numbers.
- 2,000 POGO employees’ visas downgraded from work to tourist visas.
- Hong Kong Jockey Club aims to create ChatGPT version of horse racing.
- Macau continues crackdown on illegal accommodation, pushings visitors to hotels.
AGB Intelligence
AUSTRALIA
Much anticipated Queen’s Wharf Brisbane opens doors
Despite all the controversy, The Star has pulled through, opening the doors on its multi-billion dollar Queen’s Wharf Brisbane property on Thursday. But despite the fanfare, questions still remain about the company’s suitability to maintain its casino licenses, bringing into doubt the future of the complex. The company is ardently working to ensure its compliance, in particular now that it has a new revenue stream.
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