Last week wasn’t a good week for the Hong Kong-based Chow Tai Fook Enterprises (CTFE), part of the Cheng family’s property, jewellery, hotel and gaming conglomerate.
From 2022, the Queensland government undertook a 16-month inquiry into the company’s suitability as a junior partner in Star Casino’s Queens Wharf complex in light of CTFE’s links with a convicted fraudster with alleged ties to organised crime. In May, the Queensland government (which refused to release the report) used contortions like “there was not an appropriate basis to find unsuitability” to wave away the links, and explained the company’s refusal to share information with the Queensland casino regulator as the result of “differences in cultural and organisational expectations”.
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