The Star Entertainment Group Sticks with August Opening for Queen's Wharf Despite Rising Costs

The Star Entertainment Group is sticking with an August start date for the staged opening of Queen’s Wharf despite rising costs and a drop in gambling revenue from its two existing casinos in Queensland . Star is a 50 per cent partner in the Destination Brisbane Consortium building Queen’s Wharf on a 12.8 hectare riverside site in the CBD.

, Star recommitted to a staged opening from August after earlier delays and with the consortium having to push back the opening of hotels and repurposed heritage buildings. But everything comes at a cost: settling a dispute with builder Multiplex is now expected to cost the consortium between $60 million and $170 million, while another $220 million is needed to bring the project to completion. Based on the most recent cost estimate of $3.6 billion – from an initial $2 billion – that will likely see Queen’s Wharf become a $4 billion project. Consortium partners are looking to refinance loans and find enough money to finish tower two (of the five towers approved for construction

Star Entertainment Group Queen's Wharf August Opening Rising Costs Gambling Revenue Queensland Destination Brisbane Consortium Hotels Heritage Buildings Dispute Builder Multiplex Cost Estimate Refinance Loans Tower Construction

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