US EditionStar Entertainment's Queen's Wharf stake exit deal collapses
- Star has withdrawn from its $3.6 billion Queen's Wharf stake sale after shareholders approved a $300 million rescue by Bally's.
- Far East Consortium and Chow Tai Fook Enterprises have issued formal notice to terminate the sale deal to Star, which takes effect in five business days.
- Far East Consortium demands a $10 million repayment from Star within 30 days to avoid losing a stake in Tower 1.
- The future of the Queen's Wharf precinct remains uncertain, with Star indicating it is still open to negotiations.
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Renewed financial threat for Star as Brisbane casino deal faces collapse
Casino operator Star is staring down another major financial threat, despite shareholders approving a $300 million rescue deal last week. The Hong Kong investors poised to buy Star out of Brisbane's Queen's Wharf development have threatened to walk away.
·Australia
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Star Entertainment's Queen's Wharf stake exit deal collapses
Australia's Star Entertainment said it had received a notice from Hong Kong's Far East Consortium International and Chow Tai Fook Enterprises to terminate the deal to sell its 50 per cent stake in its Queen's Wharf project in Brisbane.The termination is set to take effect five business days from June 30, unle
·Singapore
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Total News Sources10
Leaning Left1Leaning Right4Center2Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
14%
C 29%
R 57%
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