Australia-listed Star Entertainment has been formally granted a new casino license for its Queen’s Wharf Brisbane project.
The casino license will be issued to a joint venture entity of which The Star Entertainment Group has a 50 percent interest, said the company in a filing to the Australian Stock Exchange on Friday.
The issuing of the license comes with a A$213 million ($161.3 million) payment to the Queensland government, with the Destination Brisbane Consortium (comprising of Star Entertainment Group, Far East Consortium (Australia) and Chow Tai Fook Enterprises) expected to pay it by October 27.
The Queen’s Wharf Brisbane development has an expected budget of A$2 billion. The development will include 1,100 premium hotel rooms, over 50 food and beverage offerings and signature gaming facilities.