Brisbanes Treasury Casino has closed what will now use its vacated building is anyones guess

“Three days into the Queen’s Wharf precinct opens, I tell you, I am champing at the bit”, says Jack, “I guess I’ll tide myself over by hitting up the RSL.” As Brisbane prepares to say goodbye to the Treasury Casino, poor gambling addicts have been warned they will have to go three whole days before the casino part of the precinct opens – which to many, is bloody unAustralian. While excitement builds around the new Queen’s Wharf, the closure of the Treasury Casino is bittersweet for many tradies who’ve lost half their paycheck to the black jack tables. As part of the Queen’s Wharf development by the Star Entertainment Group and Chow Tai Fook Enterprises, a new casino opened in 2024.
‘We’ll work with the government to preserve this beautiful heritage-listed building.’
The casino and hotel occupied two heritage-listed buildings, the Treasury Building, and the nearby Lands Administration Building respectively. One percent of the casino’s gross gaming revenue was deposited in the Jupiters Casino Community Benefit Fund. It closed on the 25 August 2024 to make way for a new Star Casino at Queen’s Wharf. “And we’ll work with the government to preserve this beautiful heritage-listed building. “The process from here is, we go through a decamp process,” Star’s boss of Brisbane operations, Daniel Finch, said. The Treasury Casino has closed — and the question as to what will replace the Brisbane icon inside the heritage-protected CBD building has one leading retail expert “stumped”.
There, officials have looked into whether the company should keep its casino license. Money problems at The Star have gotten worse due to government investigations in New South Wales. The company’s been pushed to find ways to raise cash, like selling off key assets, as it deals with big market hurdles. This development, which includes a new casino still needs the green light from regulators.
Finch said that the decision to close the Treasury Casino and Hotel, which operate out of two adjacent heritage-listed CBD buildings, was “an emotional one” for staff because the company had been the caretaker of the sites since 1995. The closure is part of the transition to the new Queen’s Wharf development, a massive $3.6 billion project that is set to ‘reshape Brisbane’s entertainment landscape.’ The Star’s future depends a lot on how well the Queen’s Wharf project does. The company thinks it will get about AUD60.7 million ($40.5 million) from the deal, which will finish by the end of September if the government approves.
An expert in industry analysis, Silvia closely tracks global mergers, acquisitions, and transitions in corporate strategy. The Star will need to sell more assets and keep talking with government officials as it tries to get back on solid financial ground. The money from selling the Treasury Building gives The Star some short-term financial help, but the company still has big challenges to face. The Star is selling the Treasury Building as part of its bigger plan to reshape the company. Finch said it had been a privilege for the company and its staff to run the heritage-listed building for almost 30 years.
The sale comes after the Treasury Casino shut down in August 2024, as The Star moves to its new AUD3.6 billion ($2.4 billion) Queen’s Wharf project. The company’s Queensland licence only allows for one Brisbane casino and moving its operations to Queen’s Wharf is a complex and costly operation. Almost 30 years after a heritage-listed government office building reopened as a 24-hour entertainment venue, Brisbane’s Treasury Casino will close its doors at the stroke of midnight on Sunday. The project represents a significant investment by The Star Entertainment Group, marking a shift in its operations from the older Treasury Brisbane site to the newly developed precinct. The Star Entertainment Group announces closure of Treasury Brisbane Casino ahead of Queens Wharf Brisbane opening, signalling a major shift in its operations.
The investigation’s conclusion in February 2024 allowed the project to proceed without additional regulatory obstacles. This investigation was initiated due to concerns over CTFE’s alleged connections to Asia-based junkets, including Suncity Group. Queens Wharf Brisbane, a $3.6bn development, will feature a mix of residential, entertainment and commercial spaces. The closure and subsequent opening are contingent upon final regulatory approvals from the Office of Liquor and Gaming Regulation (OLGR). This closure is the casino in brisbane open on good friday part of the final preparations for the staged opening of the new Queens Wharf Brisbane precinct, set to begin on 29 August 2024. The Star Entertainment Group has announced that the Treasury Brisbane Casino will close to the public at midnight on 25 August 2024. Amid these challenges, the Queensland and New South Wales governments have deferred their regulatory crackdown, giving The Star a window to implement necessary reforms.