Cyclone Alfred stalled off Australia's east coast on Thursday delaying landfall as officials shut airports, schools and public transport and residents stockpiled supplies and sandbagged homes against floodwaters expected when the category-two storm hits.

The category-two storm Cyclone Alfred has stalled off Australia's east coast and is now likely to make landfall by Saturday morning near Brisbane, Australia's third-most populous city, the Bureau of Meteorology said in its latest update, compared with a prior projection of landfall by early Friday.

Australia's Star Entertainment on Friday said it has yet to reach an agreement to sell its 50 per cent stake in the Brisbane joint venture to its Hong Kong-based shareholders, as it navigates mounting pressures to avoid voluntary administration.