{"id":183364,"date":"2026-04-02T13:16:33","date_gmt":"2026-04-02T13:16:33","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/183364\/"},"modified":"2026-04-02T13:16:33","modified_gmt":"2026-04-02T13:16:33","slug":"ctfe-and-fec-take-full-control-of-queens-wharf-brisbane","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/183364\/","title":{"rendered":"CTFE and FEC Take Full Control of Queen\u2019s Wharf Brisbane"},"content":{"rendered":"

In a significant shift, Hong Kong-based investors Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC) have become the sole owners of the Queen\u2019s Wharf Brisbane Integrated Resort<\/a>. This follows Star Entertainment\u2019s sale of its 50% stake in the project, a deal which concluded on March 31, 2026.<\/p>\n

This move comes after a lengthy negotiation process, marking a critical juncture for both parties. Star Entertainment, facing financial pressures and an evolving regulatory landscape, decided to offload its share in the AU$3.6 billion Queen\u2019s Wharf development, which includes the casino, hotels, and other entertainment offerings. The deal<\/a> solidifies CTFE and FEC\u2019s control over the Destination Brisbane Consortium (DBC), with each company now holding a 50% interest, up from their previous 25% stakes.<\/p>\n

Impact of the Sale<\/p>\n

The acquisition by CTFE and FEC has been welcomed by the investors, who have committed AU$171 million in guarantees to the Queensland state government, ensuring the completion of the project. The full build-out of Queen\u2019s Wharf Brisbane, which began in 2024, is scheduled to conclude by 2029. With Brisbane selected as the host city for the 2032 Olympic Games, the timing of this investment positions the resort to benefit from the anticipated surge in tourism and global attention.<\/p>\n

CTFE\u2019s Christopher Cheng, co-CEO, emphasized that the deal would bring\u00a0\u201clong-term stability\u201d\u00a0to the resort. Both companies are deeply invested in ensuring the successful completion of Queen\u2019s Wharf, which is envisioned as a premier destination for tourism, entertainment, and lifestyle in Brisbane.<\/p>\n

While the ownership of Queen\u2019s Wharf has shifted,\u00a0Star Entertainment<\/a> will continue to manage the casino complex. However, the new terms of their involvement are far less lucrative. Under the revised management agreement, Star will now receive a fixed annual management fee of AU$18 million (US$12.4 million), significantly reduced from the AU$5 million per month they had initially been set to receive. This change was part of the agreement that followed the sale of Star\u2019s stake in the project.<\/p>\n

Despite the reduced fee, Star remains a key player in the operations of the resort. The company, which has been under financial strain, had previously identified the sale of its Queen\u2019s Wharf stake as a necessary step to stabilize its business. The deal also includes provisions for future collaboration with the Hong Kong investors, as Star is expected to receive performance-based incentives in addition to the fixed fee.<\/p>\n

Looking Ahead<\/p>\n

With Queen\u2019s Wharf Brisbane now fully under the control of CTFE and FEC, both investors have expressed their commitment to delivering on the project\u2019s full potential. As Australian Broadcast Company (ABC) reports<\/a>, FEC executive Wendy Chiu emphasized that the company is\u00a0\u201cgrateful for the Queensland government\u2019s ongoing support for the project\u201d\u00a0and is eager to continue its work with stakeholders to ensure the resort\u2019s success.<\/p>\n

As the development progresses, both companies will benefit from the long-term growth prospects associated with Brisbane\u2019s status as the host city for the 2032 Olympics. The resort is expected to become a central hub for international visitors, further boosting the region\u2019s tourism industry.<\/p>\n","protected":false},"excerpt":{"rendered":"In a significant shift, Hong Kong-based investors Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC) have…\n","protected":false},"author":2,"featured_media":183365,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[9,24,63,122,124,123],"class_list":{"0":"post-183364","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-queens","8":"tag-new-york","9":"tag-new-york-city","10":"tag-nyc","11":"tag-queens","12":"tag-queens-headlines","13":"tag-queens-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/183364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=183364"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/183364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/183365"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=183364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=183364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=183364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}