Star Entertainment gets Brisbane casino license

The Queensland state government has given Australian casino operator to Star Entertainment Group Ltd. (Star Ent) the green light to commence with its Queen’s Wharf Brisbane casino.

In a filing to the Australian Securities Exchange on Friday, Star Ent announced that it has secured a license for its casino, which stated that its operations “are permitted to commence upon completion” of the project.

Destination Brisbane Consortium (DBC) – which comprises of Star Entertainment, Hong Kong-based Chow Tai Fook Enterprises Ltd and Far East Consortium (Australia) Pty Ltd, a unit of Far East Consortium International Ltd – is required to make a payment of AU$213 million (US$161.83 million) to the Queensland Government upon the satisfaction of certain conditions.

Star Entertainment said its share of the payment amounts to AUD77 million, which is expected to be paid by October 27.