Gambling revenue down as Queen’s Wharf build cost nudges $4 billion

The Star Entertainment Group, which operates casinos in Australia and New Zealand, has reported a decline in gambling revenue from Queensland gamblers. This decline is attributed to increased competition from other gambling venues in the region, as well as changes in consumer behavior and preferences.

In addition to this, the company is also facing increased costs for its joint-venture mega project in the Brisbane CBD, known as Queen's Wharf. The cost of building the project has nudged $4 billion, which is significantly higher than initially estimated. This increase in costs is due to a variety of factors, including delays in construction and unexpected expenses related to the project.

The Star Entertainment Group has stated that it is taking steps to mitigate these challenges and ensure the long-term success of its business. This includes diversifying its revenue streams and investing in new technologies and initiatives to attract and retain customers. The company is also working closely with local governments and regulatory bodies to address any concerns or issues related to its operations.