Australian casino operator The Star Entertainment Group has sold a 10% stake of itself to two Asian firms with which it’s partnered on a Queensland integrated resort project.

On Thursday, The Star informed investors that it had entered into an “expanded strategic partnership” with Hong Kong conglomerate Chow Tai Fook Enterprises (CTFE) and property developer Far East Consortium International Ltd (FEC). The trio are already joint venture partners on the A$3b Queen’s Wharf casino project in Brisbane, which is expected to open to the public sometime in 2022.

The trio have inked a Strategic Alliance Agreement that will see them pursue several development projects, including up to five joint venture towers on Australia’s Gold Coast for hotel, residential, entertainment, tourism and retail use.

The trio will also collaborate on further expansion of The Star’s flagship Sydney property, as well as form a marketing alliance to leverage CTFE and FEC’s customer bases and loyalty programs to drum up new VIP and premium mass gambling business for The Star’s casino properties.