{"id":2056079,"date":"2025-09-28T19:22:46","date_gmt":"2025-09-28T19:22:46","guid":{"rendered":"https:\/\/celebrity.land\/en\/?p=2056079"},"modified":"2025-09-28T19:22:46","modified_gmt":"2025-09-28T19:22:46","slug":"star-entertainments-brisbane-casino-deal-collapses-shares-hit-record-low","status":"publish","type":"post","link":"https:\/\/celebrity.land\/en\/star-entertainments-brisbane-casino-deal-collapses-shares-hit-record-low\/","title":{"rendered":"Star Entertainment&#8217;s Brisbane casino deal collapses; shares hit record low"},"content":{"rendered":"<p><\/p>\n<div>\n<div data-testid=\"ContextWidget\" class=\"context-widget-module__container__b9mKr context-widget-module__with-scroll__CmEdD article-body-module__context_widget__sq1EI\">\n<div class=\"context-widget-module__content__lI1uo\">\n<ul data-testid=\"Summary\" class=\"summary-module__summary__QjADA\">\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Shares hit all-time low of 9.1 Australian cents<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Star&#8217;s Hong Kong partners refuse to extend talks<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Star has to reimburse partners A$41 mln<\/li>\n<li data-testid=\"Body\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz\">Responsible for A$200 mln future contribution<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>Aug 1 (Reuters) &#8211; Star Entertainment&#8217;s planned 50% stake sale in its A$3.6 billion ($2.32 billion) Brisbane resort failed after its Hong Kong-based investors looking to exit the joint venture refused to extend talks, it said on Friday, sending its shares to a record low.<\/p>\n<div data-testid=\"paragraph-1\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF\">The collapse of the <a rel=\"nofollow\" target=\"_blank\" data-testid=\"Link\" href=\"https:\/\/www.reuters.com\/markets\/deals\/australias-star-entertainment-get-33-million-hong-kong-investors-asset-swap-deal-2025-03-07\/\" referrerpolicy=\"no-referrer-when-downgrade\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\">Queen&#8217;s Wharf deal<\/a> marks a major setback for the Australian casino operator, which is on the brink of bankruptcy following a string of regulatory probes over the past two years that drove patrons away and left it with a mounting debt pile.<\/div>\n<p data-testid=\"promo-box\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__promo-box__hVl8h\"> <!-- -->Sign up<!-- --> <!-- --> <a rel=\"nofollow\" target=\"_blank\" data-testid=\"Link\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/star-entertainments-brisbane-casino-deal-collapses-shares-hit-record-low-2025-08-01\/undefined?location=article-paragraph&amp;redirectUrl=%2Fworld%2Fasia-pacific%2Fstar-entertainments-brisbane-casino-deal-collapses-shares-hit-record-low-2025-08-01%2F\" referrerpolicy=\"no-referrer-when-downgrade\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC\">here.<\/a><\/p>\n<p>Star will now have to repay the investors, Far East Consortium and Chow Tai Fook Enterprises, A$41 million, which includes proceeds and equity contributions invested in the project, by September 5 after they failed to reach consensus on the stake sale.<\/p>\n<div data-testid=\"paragraph-3\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF\">&#8220;The parties have been unable to reach agreement on a number of outstanding commercial issues,&#8221; the casino operator said in a <a rel=\"nofollow\" target=\"_blank\" data-testid=\"Link\" target=\"_blank\" href=\"https:\/\/cdn-api.markitdigital.com\/apiman-gateway\/ASX\/asx-research\/1.0\/file\/2924-02974048-2A1611179&amp;v=4a466cc3f899e00730cfbfcd5ab8940c41f474b6\" referrerpolicy=\"no-referrer-when-downgrade\" rel=\"noopener\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">statement<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 32 32\" aria-hidden=\"true\" focusable=\"false\" role=\"presentation\" data-testid=\"NewTabSymbol\" class=\"link-module__new-tab-symbol__d53s7\"><path fill=\"#666\" d=\"M15 6c.6 0 1 .4 1 1s-.4 1-1 1H9c-.6 0-1 .4-1 1v14a1.1 1.1 0 0 0 .2.6c.1.2.4.4.8.4h14c.6 0 1-.4 1-1v-6c0-.6.4-1 1-1s1 .4 1 1v6a3 3 0 0 1-3 3H9a3 3 0 0 1-2.2-.9A3 3 0 0 1 6 23V9a3 3 0 0 1 3-3Zm10 0 .4.1.5.5.1.4v6c0 .6-.4 1-1 1s-1-.4-1-1V9.4l-5.3 5.3a1 1 0 0 1-.7.3 1 1 0 0 1-.7-.3 1 1 0 0 1 0-1.4L22.6 8H19c-.6 0-1-.4-1-1s.4-1 1-1Z\"\/><\/svg><span style=\"border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap\">, opens new tab<\/span><\/a>, adding that the partners refused a last-ditch effort to extend the negotiations by a week.<\/div>\n<p>That leaves Star responsible for future equity contributions to the project of about A$200 million, and may need to inject additional equity when the project&#8217;s debt facility of A$1.4 billion comes up for refinancing in December.<\/p>\n<p>Shares in the embattled Australian casino operator tanked more than 17% to their record low of 9.1 Australian cents per share earlier in the day. They were last trading at 9.4 cents apiece, as of 0417 GMT.<\/p>\n<p>&#8220;The A$1.4 billion debt refinancing of the DBC (Destination Brisbane Consortium, name of the JV) due in December looms as a make-or-break moment for The Star, if it can survive that long,&#8221; said John Lockton, head of investment strategy at MST Financial.<\/p>\n<p>&#8220;The Star&#8217;s cash flow continues to wither, and the back and forth over commitments only muddies the picture further.&#8221;<\/p>\n<p>($1 = 1.5547 Australian dollars)<\/p>\n<div class=\"article-body-module__element__5eCce\">\n<p data-testid=\"SignOff\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__extra_small__8Buss body-module__full_width__kCIGb body-module__extra_small_body__Bfz20 sign-off-module__text__LQAMP\">Reporting by Rishav Chatterjee and Shivangi Lahiri in Bengaluru; Editing by Harikrishnan Nair and Alan Barona<\/p>\n<\/div>\n<p data-testid=\"Body\" dir=\"ltr\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__element__5eCce article-body-module__trust-badge__5mS3f\">Our Standards: <a rel=\"nofollow\" target=\"_blank\" data-testid=\"Link\" target=\"_blank\" href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" referrerpolicy=\"no-referrer-when-downgrade\" rel=\"noopener\" class=\"text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__small__sph8i link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76\">The Thomson Reuters Trust Principles.<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 32 32\" aria-hidden=\"true\" focusable=\"false\" role=\"presentation\" data-testid=\"NewTabSymbol\" class=\"link-module__new-tab-symbol__d53s7\"><path fill=\"#666\" d=\"M15 6c.6 0 1 .4 1 1s-.4 1-1 1H9c-.6 0-1 .4-1 1v14a1.1 1.1 0 0 0 .2.6c.1.2.4.4.8.4h14c.6 0 1-.4 1-1v-6c0-.6.4-1 1-1s1 .4 1 1v6a3 3 0 0 1-3 3H9a3 3 0 0 1-2.2-.9A3 3 0 0 1 6 23V9a3 3 0 0 1 3-3Zm10 0 .4.1.5.5.1.4v6c0 .6-.4 1-1 1s-1-.4-1-1V9.4l-5.3 5.3a1 1 0 0 1-.7.3 1 1 0 0 1-.7-.3 1 1 0 0 1 0-1.4L22.6 8H19c-.6 0-1-.4-1-1s.4-1 1-1Z\"\/><\/svg><span style=\"border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap\">, opens new tab<\/span><\/a><\/p>\n<nav aria-label=\"Tags\" data-testid=\"Tags\" class=\"tags-line-module__tags__oT22o article-body-module__element__5eCce\"\/>\n<div class=\"article-body-module__row__jhsYg article-body-module__element__5eCce\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.reutersagency.com\/en\/licensereuterscontent\/?utm_medium=rcom-article-media&amp;utm_campaign=rcom-rcp-lead\" target=\"_blank\" dir=\"ltr\" class=\"button-module__link__A3sD0 button-module__secondary__70gBu button-module__round__QDFgq button-module__w_auto__Sem-F\" data-testid=\"LicenceContentButton\"><span class=\"button-module__container__7hKTY license-content-button-module__button__fVUbl\"><span data-testid=\"Text\" class=\"text-module__text__0GDob text-module__inherit-color__PhuPF text-module__regular__qJJtA text-module__body_fixed__x-bYA license-content-button-module__text__o0vYm\">Purchase Licensing Rights<\/span><\/span><\/a><\/div>\n<\/div>\n<p><em> \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n<p><em> \u2018 Some details of this article were extracted from the following source www.reuters.com \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares hit all-time low of 9.1 Australian cents Star&#8217;s Hong Kong partners refuse to extend talks Star has to reimburse partners A$41 mln Responsible for A$200 mln future contribution Aug 1 (Reuters) &#8211; Star Entertainment&#8217;s planned 50% stake sale in its A$3.6 billion ($2.32 billion) Brisbane resort failed after its Hong Kong-based investors looking to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[382525,28008,382544,376448,382546,382526,382548,382527,382563,382528,382529,347385,344401,382530,382547,382564,347387,382565,382566,382531,347418,382558,382557,382560,382562,347415,382561,382568,382555,382569,382554,347420,347429,347424,382559,382524,382532,382542,382545,382533,382549,382550,382543,345590,382551,382552,40695,347383,382523,382534,382553,347399,382535,306584,382536,382537,382538,382539,382540,382567,382541,382556,347402,347384],"class_list":["post-2056079","post","type-post","status-publish","format-standard","hentry","category-entertainment","tag-allce","tag-asia","tag-asxpac","tag-au","tag-aunz","tag-bact","tag-bisv","tag-biz","tag-bkrt","tag-casgm","tag-casgm1","tag-ccos","tag-cdm","tag-cmpny","tag-cn","tag-corpd","tag-cycs","tag-dbt","tag-dbtr","tag-deal1","tag-destabn","tag-destabx","tag-destauf","tag-destbnx","tag-destd","tag-deste","tag-destfun","tag-destlita","tag-destocabsm","tag-destoma","tag-destousbsm","tag-destpsc","tag-destrbn","tag-destucdptest","tag-destz","tag-dltk","tag-dvst","tag-easia","tag-emrg","tag-ents","tag-fin","tag-fins","tag-hk","tag-hot","tag-invbis","tag-invm","tag-legal","tag-mtpix","tag-nrlpaoma","tag-publ","tag-pve","tag-pxp","tag-rea","tag-real","tag-reale","tag-reale1","tag-reop","tag-res","tag-resf","tag-reuters-legal","tag-stk","tag-stx","tag-topcmb","tag-topnws"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2056079","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=2056079"}],"version-history":[{"count":0,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2056079\/revisions"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2056079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2056079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2056079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}