With demolition work for the Queen's Wharf casino and entertainment precinct well under way, a $2 billion entertainment precinct on the other side of Brisbane's CBD moved a step closer late last week.

Venue operator AEG Ogden has been pursuing its market-led proposal for the Brisbane Live entertainment precinct, which would include a $450 million, 17,000-seat arena built on top of the Roma Street railyards, for more than a year.

AEG Ogden representatives met with Deputy Premier Jackie Trad and Treasurer Curtis Pitt last Friday and it was understood all parties were encouraged by the progress.

"Brisbane Live is an exciting idea, and has moved on considerably since it was first proposed," Mr Pitt said.