Star Entertainment

Gaming heavyweight Star Entertainment has tapped Macquarie Capital to sell the car park concession at its Sydney casino in a move that could reap more than $200 million.

The shock rejection of The Star casino’s plans for a hotel and luxury apartment tower in harbourside Pyrmont has rocked the development industry and may damage Sydney’s standing as investment destination.

The Star Entertainment Group and its partners have bounced back from the rejection of their planned luxury tower in Sydney, with the Queensland government announcing it will begin direct negotiations to fast-track a proposed $2 billion revamp of its Gold Coast casino holdings.

The Star Entertainment Group and its partners have pledged to pour $2 billion into a dramatic revamp of its Gold Coast holdings as it seeks to head off the threat of a rival casino operator entering the market via the Queensland government’s long-running integrated resort process.

The Star Entertainment Group’s long-held plans to develop a glittering six-star, $500 million Ritz Carlton-branded tower in Sydney were in tatters last week after the NSW government summarily rejected the gaming company’s ambitious plans.

The Star Gold Coast has unveiled plans to build an open-air concert venue in the hope of luring a greater number of local and international acts to the sunny shores.

The Star Entertainment Group has had its future vision for the Gold Coast signed off by the state government, paving the way for the casino company and its partners to have about $9 billion worth of tourism assets across South East Queensland.

The Star Entertainment Group’s plans to return the high-octane luxury hotel brand Ritz-Carlton to Sydney have moved a step closer with the lodgement of a development application for a $500 million-plus hotel and residential tower.

The Star Casino is considering fast-tracking the building of its $400 million, 53-storey third tower at Broadbeach after stronger-than-expected sales.