Hong Kong development giant Far East Consortium International Ltd (FEC) says the acquisition of an additional 25% equity share in Destination Brisbane Consortium (DBC) from Australia’s Star Entertainment Group provides an opportunity to achieve “operational improvement” at DBC’s Queen’s Wharf Brisbane integrated resort – also known as The Star Brisbane.
Releasing its financial results for the year ended 31 March 2026 on Thursday, FEC said it “remains confident in its long-term growth prospects and value creation” that Queen’s Wharf Brisbane presents, “particularly in the light of the 2032 Olympic Games [in Brisbane].”
DBC was initially formed as a three-way partnership under which Star held 50% and both FEC and fellow Hong Kong investor Chow Tai Fook (CTF) each held 25%. However, Star offloaded its entire stake in March of this year, with FEC and CTF now equal 50% stakeholders. Star will continue operating the casino under a management agreement.
FEC said in its results release that taking on a higher stake is “expected to unlock opportunities for operational improvement” at Queen’s Wharf Brisbane.
DBC holds a 99-year casino license in Brisbane including a 25-year exclusivity period within 60 kilometers of the Brisbane CBD. The Queen’s Wharf Brisbane precinct which opened in August 2024, features three world-class hotels, a high-end casino with private gaming areas, food and beverage outlets, more than 6,000 square meters of retail and dining space, and approval for up to 2,500 electronic gaming machines and unlimited gaming tables.
The initial phase of the casino, The Star Brisbane, features the main gaming floor and premium gaming rooms housing approximately 1,600 slot machines and 180 gaming tables as well as The Star Grand Hotel with 340 rooms, an event centre, Sky Deck, car parks, public spaces and select food and beverage outlets.
Aside from its 50% interest in Queen’s Wharf Brisbane, FEC holds a 2.8% interest in Star Entertainment Group – reduced from the original 4.99% following the issue by Star of new equity as part of the Bally’s takeover last year.
FEC also holds a controlling 72.0% stake in Hong Kong-listed Palasino Holdings Ltd, which operates four casinos in the Czech Republic plus five hotels in the Czech Republic, Germany and Austria.
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