Star Entertainment Group has entered a trading halt this morning, pending an imminent announcement. The pause follows reports in the Australian Financial Review that the company has reignited previous plans to divest its 50 per cent stake in the Queen’s Wharf hotel and casino complex located in Brisbane.
Star Entertainment Group is an Australian gambling and entertainment company that owns and operates casinos and integrated resorts. The company’s primary focus is providing gaming, entertainment, and hospitality services across its various properties.
According to reports, Star Entertainment has reached an agreement with its Hong Kong-based business partners regarding the sale. Further details of the agreement, including financial specifics and the timeline for the transaction, are expected to be disclosed in the forthcoming announcement from the company. Investors are awaiting official confirmation from Star Entertainment to assess the potential impact of this development on the company’s financial position and strategic direction.
The trading halt provides time for the market to digest the news before trading resumes. The ASX will be keenly awaiting the company’s statement.
