The Queensland government is facing a dilemma regarding the financial struggles of The Star casino, which is seeking a lifeline to save thousands of jobs tied to the company. The Star’s Queens Wharf hotel and casino precinct is a key part of the government’s masterplan for the Brisbane CBD and future tourism growth, including the 2032 Olympics. However, cost overruns on the project and a legal dispute with builder Multiplex have caused financial turmoil for the company, prompting it to seek assistance from the NSW and Queensland governments.
The Star recently entered a trading halt and asked for a tax reprieve in order to stabilize its financial situation. Premier Steven Miles has not revealed the government’s plans to aid the struggling casino, but has emphasized the importance of ensuring that taxpayers receive owed funds and that the 1400 people set to be employed at the Queen’s Wharf Brisbane project retain their jobs. The government is working to find a solution that will support the casino while also protecting the interests of the public and workers involved in the project.
Despite the Queensland government’s efforts to save The Star, the situation remains precarious as Premier Miles has not disclosed any concrete plans for assisting the company. The government is focused on safeguarding the jobs and economic benefits associated with the Queen’s Wharf project, but the company’s financial challenges pose a threat to its viability. The government is also considering the potential impact of a collapse of The Star on the broader economy and future development plans in Brisbane and the Gold Coast.
Premier Miles’ NSW counterpart, Chris Minns, has indicated that the NSW government is not inclined to provide additional support to The Star. In February, the NSW government offered taxation relief to the struggling company in exchange for a commitment to maintain 3000 jobs until 2030. However, with the company continuing to face financial difficulties, there is skepticism about the effectiveness of further government intervention in the situation. The lack of support from the NSW government adds to the challenges facing The Star as it seeks to secure its future and protect the jobs of its employees.
The Queensland government’s handling of The Star’s financial troubles is being closely watched by stakeholders, including workers, investors, and the public. The outcome of the government’s efforts to assist the company will have significant implications for the future of the Queen’s Wharf project and the broader economic landscape of Queensland. The government faces a delicate balancing act in supporting The Star while also ensuring accountability and transparency in its dealings with the company.
As the Queensland government navigates the complex situation with The Star, it is clear that the fate of the company and the jobs it provides is of utmost importance. The government’s decisions in the coming weeks will determine the future of the Queen’s Wharf project and the thousands of jobs at stake. The ongoing financial turmoil at The Star underscores the challenges faced by the tourism and hospitality industry in the wake of the COVID-19 pandemic, and highlights the need for government action to protect the interests of workers and ensure the viability of key economic projects.
