The Star reviews its Queen’s Wharf investment

The company analysed the current situation of the Australian market and reviewed the investment of the Queen’s Wharf project.

Australia.- The Star Entertainment Group’s largest shareholder Matt Bekier said that he’s concerned about short-term ramifications for Chinese tourism numbers, as the country is the biggest and most important contributor to Australia’s tourism growth.

“Of course we want a positive political relationship between Australia and China. China is our biggest and most important contributor to tourism growth,” said Bekier to Fairfax Media on Monday. “There is a risk that a strained environment could cause short-term issues but we are extremely confident in the long-term outlook.”

The company also reviewed the size of Brisbane’s Queen’s Wharf project investment by US$600 million, which will be shared equally with joint venture partners. The Star is targetting US$2.4 billion in total project costs, half of that number to be covered by the company.