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A blowout in the construction timetable has pushed the opening of the $3.6 billion Queens Wharf development in Brisbane by The Star Entertainment Group (ASX: SGR) into April next year.
However, the casino operator already has its foot in the door after revealing it has been handed the keys to some of the dining and gaming areas within the complex.
Two weeks after The Star CEO Robbie Cooke revealed at a Gold Coast business breakfast that construction would be wrapped up by the end of the year, the company has announced that the Destination Brisbane Consortium developing the riverfront complex has advised the board of the delay.
“The revised opening date follows careful consideration of current progress by our builder,” Cooke says.
“Queen’s Wharf has not been immune from the types of pressures that other major infrastructure projects across Australia have encountered.
“We are disappointed, but this transformational development for Brisbane has been eight years in the making already, and it will be well worth the wait.
“Queen’s Wharf will be a game-changer for a city that continues to attract the eyes of the world as we charge towards the 2032 Olympic and Paralympic Games.”
Destination Brisbane Consortium is a partnership between The Star and Hong Kong-based developers Chow Tai Fook Enterprises and Far East Consortium.
Multiplex is undertaking construction of the development, which last year was hit by weather delays.
The mixed-use project will house The Star’s new casino to replace Treasury Casino, as well as 2,000 apartments, 1,100 hotel rooms and a Skydeck observation platform, complemented by about 50 bars, cafes and restaurants.
The Sky Deck will have a 250-metre open-air rooftop runway of bars and restaurants, offering panoramic views of the city with capacity to host up to 1,500 people.
The Star now has the keys to several dining, entertainment and gaming areas on Levels 5 and 6 of the resort, marking the first official handover of control within the complex last week.
“This milestone provides The Star, as the operator, the opportunity to commence bump-in of the respective areas,” the company says.
Cooke recently revealed that The Star has been inundated by operators, many from Sydney, looking to establish hospitality operations at Queen’s Wharf.
“We’ve got a lot of interest with Queen’s Wharf particularly with Sydney operators wanting to establish a presence which is great,” Cooke says.
“It’s now getting to the point where we have more people wanting to get a footprint in Queen’s Wharf than we have areas to accommodate them so it’s a nice problem to have.”
The Star has revealed that the third and final Sky Deck bridge section was moved into place last Friday, allowing the Sky Deck lift and connection to occur in the next few weeks.
“The completed Sky Deck will connect all four towers of the Queen’s Wharf development and signify a further milestone in the project’s progression,” the company says.
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