Far East Consortium posts gain after Destination Brisbane Consortium stake acquisition
The company reported that the gain from the DBC acquisition supported its outcome during the year
Hong Kong.- Far East Consortium (FEC) has reported a provisional gain of approximately HK$726m (US$92.5m) after completing the acquisition of a 50 per cent interest in Destination Brisbane Consortium (DBC) from Australia’s Star Entertainment Group.
In its full-year results, FEC says the acquisition, completed on March 31 with joint venture partner Chow Tai Fook Enterprises partially offset weaker contributions from property development, impairment losses, declines in investment property values and foreign exchange losses. The transaction gives the two partners equal 50 per cent ownership of DBC after Star’s exit.
FEC also highlighted continued operational progress at Queen’s Wharf Brisbane, stating that handovers of apartments in Queen’s Wharf Residences Tower 4 continued throughout the year and contributed to adjusted property development revenue. The company relaunched the remaining units in Tower 5 in July 2025 at higher prices. FEC cited continued demand for the development despite broader market uncertainty.
Beyond Brisbane, the company said its gaming business delivered steady operational growth during Revenue from Palasino Holdings, in which FEC held a 71.62 per cent controlling stake at the end of the financial year, increased 9.6 per cent to HK$448m (US$57.1m), driven by higher customer visitation following marketing initiatives in Austria.
The company expanded its casino operations in December 2025 with the soft launch of Palasino Mikulov in the Czech Republic. The venue features 106 slot machines and 10 gaming tables. Looking ahead, FEC said it remained focused on strengthening its balance sheet through asset recycling and debt reduction while continuing to invest in long-term hospitality, gaming and integrated resort projects.
