<\/p>\n
By Byron Kaye and Rishav Chatterjee<\/p>\n
(Reuters) -Troubled Australian casino company Star Entertainment said on Tuesday it had revived a sidelined deal with its Hong Kong-based partners to sell a half stake of its A$3.6 billion ($2.35 billion) Brisbane resort, sending its shares soaring.<\/p>\n
Star is selling its interest for A$53 million, of which A$45 million was paid in March.<\/p>\n
The company had cautioned that it risks collapse owing to a perfect storm of heightened regulation, lack of tourists and elevated living costs.<\/p>\n
The cash helps Star service substantial debt that it racked up converting its Brisbane property to much fanfare.<\/p>\n
Talks broke down on August 1 after investors Far East Consortium and Chow Tai Fook Enterprises \u2014 both seeking to exit the joint venture \u2014 refused Star’s request to extend negotiations.<\/p>\n
On Tuesday, Star said the investors had now agreed to a sale on terms broadly similar to the original proposal. It did not say why the Asian companies agreed to resurrect the talks.<\/p>\n
Far East Consortium and Chow Tai Fook were not immediately available for comment. Far East’s Hong Kong-listed shares were paused.<\/p>\n
Shares of Star were up 32% by midsession, against a flat overall market, bouncing from a near-record low after the company announced the reprieve.<\/p>\n
After the talks fell apart, Star began returning the A$45 million which the investors had already paid. The money Star paid back would now be returned, the casino operator said.<\/p>\n
Star will also take two-thirds of two Gold Coast hotels under construction from the Hong Kong shareholders, and will retain its rights to any future development at the Gold Coast operations, it said.<\/p>\n
The company is expected to report annual financial results on August 28.<\/p>\n
($1 = 1.5349 Australian dollars)<\/p>\n
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Alan Barona and Saad Sayeed)<\/p>\n<\/p><\/div><\/div>\n
\u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n \u2018 Some details of this article were extracted from the following source finance.yahoo.com \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":" By Byron Kaye and Rishav Chatterjee (Reuters) -Troubled Australian casino company Star Entertainment said on Tuesday it had revived a sidelined deal with its Hong Kong-based partners to sell a half stake of its A$3.6 billion ($2.35 billion) Brisbane resort, sending its shares soaring. Star is selling its interest for A$53 million, of which A$45 […]<\/p>\n","protected":false},"author":2,"featured_media":1957098,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[322635,320281],"class_list":["post-1957097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","tag-chow-tai-fook-enterprises","tag-far-east-consortium"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2025\/08\/Australia-casino-operator-Star-revives-50-asset-sale-to-HK.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/1957097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=1957097"}],"version-history":[{"count":0,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/1957097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/1957098"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=1957097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=1957097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=1957097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}