STAR GETS CASINO LICENCE FOR QUEEN'S WHARF
Written on the 14 October 2016
STAR Entertainment Group (ASX: SGR) has secured the casino license for its $3 billion Queen's Wharf Brisbane Integrated Resort Development, the company announced today.
The license will be issued to the Destination Brisbane Consortium, which comprises Far East Consortium and Chow Tai Fook Enterprises.
Star, which has a 50 per cent interest in the project, will pay $77 million towards the $213 cost of the new licence.
The fee will be paid to the Queensland Government by 27 October.
The Queen's Wharf precinct will be situated alongside the current Treasury Casino, on the bank of the Brisbane River.
The project is expected to create 2,000 construction jobs and 8,000 ongoing jobs when the resort is operational in 2022.
Star is trading down 1.03 per cent at $5.75 per share late this morning.