Gambling revenue down as Queen’s Wharf build cost nudges $4 billion

The Star Entertainment Group, which operates casinos in Australia and New Zealand, has reported a decline in gambling revenue from Queensland gamblers. This decline is attributed to increased competition from other casinos in the region, as well as changes in consumer behavior and preferences.

In addition to this, the company is also facing increased costs for its joint-venture mega project in the Brisbane CBD, known as Queen's Wharf. The cost of building the project has nudged $4 billion, which is significantly higher than initially estimated. This increase in costs is due to a variety of factors, including delays in construction and unexpected expenses related to the project.

Despite these challenges, the Star Entertainment Group remains committed to its joint-venture with the Queensland Government and continues to invest in the development of Queen's Wharf. The project is expected to create thousands of jobs and boost tourism and economic growth in the region.