Star will offload its 50 per cent stake in Queen’s Wharf and other assets to the partners for $53m plus the acquisition of two luxury hotel towers at the Star Gold Coast. The Hong Kong partners ...

Star Entertainment will sell its stake in the new Queen’s Wharf casino and entertainment complex in Brisbane, a deal that will give the company enough cash to stave off collapse for several months.

Star Entertainment’s Hong Kong partners are in Brisbane to seal a deal for control of Queen’s Wharf and it’s emerged that the casino operator will forfeit billions of dollars in management fees.

The company’s move to sell Queen’s Wharf for a fraction of what it cost to build underscores its desperation to raise cash and also jettison a project blighted by delays and cost overruns.