Topic Queen's Wharf
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The Trans and gender-diverse communities are starting to feel vulnerable, so let’s continue to work on making The Star a safe and inclusive place for everyone, esp., for trans and gender-diverse team members. Without the dedication of the Proud team, we would never have been able to achieve what we had. It was an absolute joy to see the collaboration from all the stakeholders and how their team welcomed them with open arms. Secondly, I was invited to help reintroduce a team member who was affirming their gender to their department. In turn, I aspired to be that source of encouragement and affirmation for others, fostering an environment where authenticity is celebrated and safeguarded. My journey with Spectrum/Proud began during the marriage plebiscite, a time that placed the LGBTQI+ communities under intense scrutiny. The deal will see Star give up its 50 per cent stake in the Queen's Wharf casino complex. Star told investors on Tuesday morning it had finally signed a deal with its Hong Kong partners — including one which was once linked to organised crime figures. A Queensland government spokesperson says the deal is subject to government approval. Brisbane's resort and casino precinct Queen's Wharf has faced financial woes. "My priority is to work closely with our expert team and precinct partners to drive operational excellence and regulatory compliance, pioneer innovative guest experiences, and deliver measurable value." Queen’s Wharf Brisbane is fast becoming the city’s most exciting destination for food, retail, culture, and entertainment. The gaming giant told the sharemarket it had rescued a deal to sell its Brisbane casino to its Asia partners. The embattled gaming company has completed a $53 million deal to offload the glitzy Brisbane complex. The deal has left employees with questions about the future of their jobs in the precinct. "For Star, the Queen's Wharf sale is a strategic retreat from what has become a financial quagmire, with development costs blowing out by more than $1 billion," he said. "A buyer would have to be comfortable with a company in Star's circumstances to be a joint landlord and take the risk of default under the agreement." But just when things appeared to be improving for Star, their joint venture partners suddenly announced they were terminating the agreement to buy Queen's Wharf, effective July 7. Just a few days later, Star reached a deal with US casino giant Bally's for at least $250 million in exchange for a controlling stake in the company. I have been part of the company for over 21 years, serving in various capacities. The Leisure Deck features an Event Deck, expansive lawn area for sunset picnics and exclusive resort amenities overlooking the city skyline. Perched 37 metres above street level, a 12,000sqm open-air Leisure Deck delivers an impressive mixed-use space for hotel guests and the public to enjoy. The Star Brisbane features the 5-star The Star Grand luxury Hotel near Brisbane casino, and offers an exciting array of new restaurants, bars and entertainment experiences and the property’s state-of-the-art Event Centre which is home to Brisbane’s largest hotel ballroom. The union said its members had continued to show up while Star "blundered from disaster to disaster", at times without the guarantee of pay at the end of the week. "The Queensland government would then conduct a rigorous process to license a new, financially sound, and compliant operator for the casino." Mr Hughes said if Star was forced to sell the rights to operate a casino, buyers were circling. The Queensland government has indicated it wants a casino to continue operating at Queen's Wharf but won't offer financial support or concessions to Star. Queen's Wharf was still in development for much of 2024, before opening to the public in August. "If a massive AUSTRAC fine, or the ongoing Queen's Wharf financial burden, renders Star insolvent, Bally's may pull out, leaving Star almost certainly facing administration." Reaching a deal, Mr Hughes said, is of "existential" importance to Star. By the time its new Brisbane casino opened on August 29, 2024, that had plummeted to 57 cents a share, making it difficult for the company to raise funds and keep its new business operating. In all, the casino, four hotels, retail venues and restaurant spaces would cost an estimated $3.6 billion — Queensland's biggest ever infrastructure project. If you missed the opportunity to buy off the plan, now is the time to explore available resale apartments at Queen’s Wharf Residences. For buyers looking to secure a foothold in the city’s future, Queen’s Wharf Residences is more than a home, it’s a destination. In March, desperate for money to stave off insolvency, Star agreed to sell its 50 per cent stake in Queen's Wharf to its joint venture partners Chow Tai Fook Enterprises and Far East Consortium for $53 million. In January this year, the company told the ASX it had just $79 million left in available cash and had burned through $70 million since the end of September. In September 2021, when the NICC first announced it was looking into Star Entertainment, its share price was $3.50. "Delays and ongoing costs during construction meant it was sucking cash, not generating it, at a time when Star was already struggling with regulatory fallout and falling revenue." Then came two years of pandemic lockdowns, major flooding, and an outbreak of mould — to name but a few issues — which added hundreds of millions to the price tag and many months to the timeline. The deadline to reach a deal on the sale of Star Entertainment's stake in Brisbane's Queen's Wharf precinct has been extended, as the casino operator desperately fights to avoid administration. "The agreement … is subject to regulatory approvals, which will be considered following the receipt of formal submissions," they said. A Queensland government spokesperson said the deal between Star and its joint venture partners — Chow Tai Fook Enterprises (CTFE) and Far East Consortium — was not yet finalised. This week, that was walked back, with Star announcing a new deal had finally been signed. In March, in a bid to stave off insolvency, Star agreed to sell its 50 per cent stake in Queen's Wharf to its joint venture partners. Star has struggled financially amid regulatory inquiries and increasingly tough gaming regulations. The deal still needs to pass regulatory checks and be approved by the Queensland government. In exchange, Star would receive a $53 million cash injection and stakes in Gold Coast hotels near its casino there.