The NSW Government has extended the term of The Star Sydney’s Manager, Nick Weeks, by a further six months, as the operator continues remediation work and completes its exit from Brisbane’s Queen’s Wharf project.
Under an amendment to the Casino Control Regulation, Weeks will continue to hold the license for The Star Sydney until September 30, 2026. The extension was made at the request of the NSW Independent Casino Commission, allowing the casino to continue operating gaming facilities while its licence remains suspended.
NICC Chief Commissioner Philip Crawford said the regulator had been working closely with The Star’s leadership team on the steps required to restore suitability.
Crawford said: “The new owners are making significant changes to the operation of the business.”
He added: “This includes work to make the business more financially sustainable in the long term.”
The regulator also said it would continue to oversee The Star’s remediation priorities linked to issues identified in the two Bell inquiries. Weeks was first appointed manager in October 2022 after the first Bell Review led to the suspension of The Star’s casino license.
The extension comes on the same day Star completed the sale of its 50% stake in the Destination Brisbane Consortium, which owns the Queen’s Wharf complex in Brisbane.
The disposal leaves Chow Tai Fook Enterprises and Far East Consortium as equal 50% partners in the consortium, up from their previous 25% holdings each.
Alongside Queen’s Wharf, the transaction also covers Star’s interests in the Treasury Hotel and car park, and the Charlotte Street car park.
Star is expected to receive AU$53m ($33.5m) from the deal, as well as stakes in Gold Coast hotels near its casino there.
CTFE Director and co-CEO Christopher Cheng said: “Having been involved in the project from its earliest stages, CTFE and Far East Consortium remain committed to supporting the continued development.”
FEC Executive Director Wendy Chiu said: “The group was committed to working with stakeholders to ensure the continued success of Queen’s Wharf Brisbane and to operate to the highest regulatory standards.”
The twin developments underline how Star’s regulatory remediation and financial restructuring remain closely linked, with asset sales forming part of the operator’s broader effort to stabilise operations.
Earlier this week, Star entered into a binding agreement with WhiteHawk Capital Partners for a US$390m refinancing package. The 30 March update said completion of that deal was subject to several conditions, including regulatory approvals and the disposal of Star’s interest in the Destination Brisbane Consortium.
Weeks was first appointed as manager in October 2022 after the first Bell Review led to the suspension of The Star Sydney’s casino licence
