Star Entertainment Finalises Binding Agreements for Brisbane and Gold Coast Assets

The Star Entertainment Group (ASX: SGR), a diversified entertainment and tourism company that owns and operates casinos and integrated resorts, has announced the execution of binding long-form documentation with Chow Tai Fook Enterprises Limited (CTFE) and Far East Consortium International Limited (FEC) regarding its Brisbane and Gold Coast assets. The agreements involve Destination Brisbane Consortium (DBC), owner of Queen’s Wharf Brisbane Integrated Resort, and Destination Gold Coast Consortium (DGCC), owner of the Gold Coast joint venture assets, along with other Brisbane assets owned or partially owned by The Star. This formalises the terms of a transaction where The Star will dispose of its interest in DBC, facilitating the transition of management of The Star Brisbane Integrated Resort to a new operator. The company will consolidate its position on the Gold Coast and transfer other Brisbane assets and interests to its Joint Venture Partners. These binding agreements supersede the Heads of Agreement terminated on 1 August 2025, with key aspects remaining materially consistent with the announcement made on 7 March 2025. The company has also received consent from its subordinated lenders to support the transaction based on the executed terms. Completion of the deal will occur in two stages. The first stage is the exit from DBC, with a sunset date of 30 November 2025. The second stage encompasses the remaining assets, including DGCC and The Treasury Hotel in Brisbane, expected to be completed during the second half of calendar year 2026. Both stages are subject to standard conditions precedent, including regulatory and lender approvals and the Queensland State Government’s agreement to accommodations requested by the Joint Venture Partners.