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The previous Queensland government this year waved through CTFE as a suitable casino operator, declaring the evidence did not substantiate that the company had deliberately concealed its relationship with jailed "junket king" Alvin Chau. McCann told investors that the company had posted an underlying loss before significant items of $27 million for the first four months of fiscal 2025. The Australian Financial Review tracked Mr Wang to a number of addresses in Hong Kong and Macau to determine that he was a coal baron who had made his fortune importing Mongolian and Russian coal to China. Mr Wang has links to Hong Kong-based Chow Tai Fook and Far East Consortium, one of Star’s investment partners in the Brisabane Queen’s Wharf development. Star’s shares fell almost 6 per cent in morning trading on the update to be down 96 per cent since the stock’s high-watermark in September 2021.

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