Overview
- Star has signed a binding A$53 million agreement to sell its 50 percent Queen’s Wharf casino stake to Chow Tai Fook Enterprises and Far East Consortium.
- The transaction shields Star from at least A$212 million in pending equity contributions and removes its guarantee on half of the project’s debt facility.
- Consent from Bally’s Corporation fulfills a key condition after the U.S. gaming group’s earlier A$300 million rescue package.
- The sale will complete in two stages, with Star exiting Queen’s Wharf by November 30 and other Brisbane assets transferring under conditions in the second half of 2026.
- While the deal eases immediate funding pressure, Star remains exposed to ongoing cash burn, unresolved regulatory probes and contingent project liabilities.