Will Sky Deck, cafes, bridge close: Your Star Entertainment Group questions answered
What is the future for Star’s popular new attractions? We ask experts about what’s in store for unit owners, visitors to Sky Deck and Neville Bonner bridge, and foodies hoping to book a table.
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Star Entertainment Group might be in big trouble, but the good news for people keen to try Brisbane’s latest lifestyle precinct is that many of the attractions are likely to stay open even if Star collapses.
Retail and business experts predict the business can be saved, albeit possibly under new owners, with the casino, hotel, bridge, Sky Deck and hospitality outlets tipped to keep going.
Unit deposit holders are in for a long wait, however, and the high-end retailers announced with great fanfare last year might not open for years — if ever.
Earlier this month Star pleaded for more time to sort out the mess, which has been years in the making due to a range of problems from the rise of online gambling to Covid lockdown and tighter rules on high rollers.
“The Star Brisbane is continuing business as usual operations,’’ a spokeswoman said.
“The Star has launched a multitude of attractions, including the very popular Sky Deck, cultural, culinary and entertainment offerings, since the first stage of opening in August last year, invigorating the previously under-utilised 12ha of river’s edge.
“We are continuing to promote The Star Brisbane to the tourism, events industry and entertainment sector as the new must-visit Queensland attraction.”
We take a look at what is likely to change if Star goes under.
EVENTS
A range of events are restarting for the year, will continue or are planned to open later in 2025.
A five-star pool deck with leisure amenities will open this year on level 7.
A Chairman’s Lounge is also due to open this year, similar to Star’s Gold Coast members-only Star Club which offers a range of exclusive benefits.
The Finger Wharves are on track to open next month, providing a new perpendicular wharf and upgrades to three existing wharves.
Destination Brisbane Consortium project director Simon Crooks said they would “attract people to the river’s edge to enjoy another location beyond the Riverside Expressway’’.
“The Wharves will also be a marine drop off and pick up point for people wanting to explore ... the Brisbane River.”
The multimillion public art installations, including one by renowned artist Lindy Lee, will remain in place.
The Museum of Brisbane’s walking tours of historic buildings in the precinct, held three times a week last year, will resume later in 2025.
The new grassed public areas along the river including The Landing, where the first Christmas Suno Lumo Festival was held last month, will host Chinese New Year festivities and other events later this year.
NEVILLE BONNER BRIDGE
The striking bridge, which connects South Bank to the lower levels of the casino building, has been a huge hit since opening in August last year.
It was paid for by Star but is owned by the State Government and so is highly unlikely to close.
SKY DECK
More than 600,000 people have flocked to soak in the panoramic views from Sky Deck since it opened last year.
It also will not close and the huge foot traffic generated will be vital for hospitality venues in the main casino building.
Star owns the bar and eateries on the sky Deck level and intends to keep them operating.
CAFES/RESTAURANTS
The main impacts, at least those obvious to the public, could be the cafes, bars and restaurants in the main casino building.
They have been well patronised since opening, despite teething problems with some inexperienced staff and service delays.
Patrons could still enter from the Bridge via South Bank or via George St, even if the casino itself closed.
Michael Tassis, whose company runs the upmarket Pompette and Dark Shepherd at the Star, said its venues were independently operated.
“As far as we’re concerned, it’s all business-as-usual moving forward,’’ Mr Tassis said.
“My focus has always been on delivering memorable dining experiences to the people of
Brisbane and that commitment remains unwavering.
“Since opening in December, we’ve been overwhelmed by some incredible feedback from the community and a steady flow of visitors, including an influx of pedestrians from the Neville Bonner Bridge.
“Regardless of what happens, the Tassis Group is steadfast in our mission to revitalise Brisbane’s dining scene and set a new standard for hospitality in the city.’’
QUT retail expert Prof Gary Mortimer also predicted people would still go to Sky Deck, have a drink and something to eat, even if the casino were to close.
“We think of Star just as a casino but the whole area will potentially become an entertainment and dining precinct,’’ he said.
“The casino is not necessarily an attraction for the people who are already going there.’’
He said QUT last year held graduations in the precinct for the first time.
It included a live venue and sports bar as well.
Business Reset liquidator and restructuring expert, Jarvis Archer, agreed.
“Without the restaurants and bars, the venue becomes less of a destination and it would be very difficult to fill those spaces in future,’’ he said.
“Given their significance to the precinct and the investment involved, it’s likely that these assets will continue to operate under either the current ownership, or new ownership in the event of a sale of Star’s assets.
UNITS
Investors in the luxury proposed Queens Wharf Tower 5 apartments have been among those most affected although Star is not the developer.
The developer this week confirmed the project faced delays of three years as it sought council approval to increase the 75-level overall height, making the building more economically viable.
Millions of dollars in deposits, with interest, have been refunded but many people planned to reinvest despite now having to pay an extra 12.5 per cent under new contracts.
“So far 460 of 819 buyers have re-signed the new contract, which is a strong sign of confidence,” a spokesman said.
Hong Kong-based developers Chow Tai Fook Enterprises and Far East Consortium have also told new investors body corporate fees would be increased, to more than $10,000 for the first 12 months.
More than 819 investors stumped up 10 per cent deposits three years ago, with the luxurious three-bedroom sky apartments originally hitting the market at prices starting from $3 million.
HOTEL
Star’s Grand Hotel also appears to be under no threat of closing.
It was fully booked when it opened last year despite some poor online reviews.
It is another prime asset that almost certainly will continue trading, particularly as the CBD hotel market has rebounded strongly since Covid, according to the latest Committee for Brisbane Vitality Report.
That might well be under the wing of another hotels operator such as Accord or Hilton.
The 340-room five-star hotel, which charged $5600 a night for its penthouse suites, is a prized asset.
The precinct is also earmarked for the 387-room, four-and-a-half-star Dorsett Brisbane hotel, which will include a conference centre, pool, spa, gym and all-day dining.
The Rosewood will be Australia’s only six-star hotel.
Both hotels, which are being developed by Star’s joint venture partners, will be located in the same building.
It began construction about four years ago and will be connected to Sky Deck on level 26.
They are expected to come online by late next year.
LUXURY RETAILERS/HERITAGE BUILDINGS
The future for the high-end shops promised only four years ago is very unclear, although Star says it is still in discussions.
Last September Destination Brisbane Consortium revealed that a deal with the Moet Hennessy Louis Vuitton Group had fallen through.
It was to have included a three-level T Galleria Emporium in the historic Printery Building on George Street, plus luxury brands including Louis Vuitton, housed across 16 freestanding stores.
“I walked through the casino three or four weeks back and there was literally no retail development,’’ Prof Mortimer said.
“The shopfronts were covered in wrapping — and that does not include the heritage buildings.
JOBS
Perhaps the biggest question of all is the casino itself and the hundreds of jobs it provides.
Queensland Attorney-General Deb Frecklington has declined to comment on whether there are any contingency plans in place if Star enters administration.
“Our primary focus remains on ensuring frontline jobs remain secure regardless of the ownership of the company into the future,” a spokesman for Ms Frecklington said.
But exactly how the government will do that is unknown.
Star chief executive Steve McCann has called for the Queensland and NSW governments to provide a temporary pause on the payment of gaming taxes.
The rise of online gambling and tougher laws on high rollers has affected Star’s casinos.
But Wealth Within chief analyst Dale Gillham said some investors still saw opportunity in the company.
Mr Archer said while the future was very hard to predict the signs for a turnaround, as had happened with Channel 10 and Virgin, were encouraging.
“Financial uncertainty like this is inherently complex and predicting the outcome for individual businesses or assets is always difficult,’’ he said.
“However, what we do know is that Australia is generally a fairly stable operating environment.
“In this context substantial, established businesses such as Star Entertainment will attract interested parties who see the strong future potential.
“They’ll have the financial means to recapitalise the business, support it through periods of difficulty and invest in its turnaround to return it to sustainable, profitable trading.’’
“The good news is the construction project has resulted in a substantial operating asset in the Queen’s Wharf casino.
“Additionally, the poor trading conditions, compounded by high interest rates, persistent inflation and a decline in consumer spending due to cost-of-living pressures, are expected to subside later this year.’’
He said any government help would be a “delicate balancing act’’ because Star was the jewel in the crown of the city’s infrastructure.
“If it falters, it could cast doubt on the broader narrative of Brisbane as a destination poised for growth and capable of hosting world-class events,’’ Mr Archer said.
“There’s no doubt a business of this size will continue, but how that happens is uncertain.’’
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