
07/03/2025
The Star Entertainment Group (ASX: SGR) has secured an eleventh-hour reprieve from falling into administration with a new $940 million debt deal and plans to abandon its $3.6 billion Queen’s Wharf casino in Brisbane in a move that has the group doubling down on the Gold Coast market.
The plan, announced this evening after the share market closed, will ultimately see The Star make a complete exit of the Brisbane market and its 50 per cent interest in the Destination Brisbane Consortium for a cash payment of $53 million – or a little over half the equity contributions of $91.5 million the company made in the September quarter to complete the project.
The Star Entertainment Group (ASX: SGR) has secured an eleventh-hour reprieve from falling into administration with a new $940 million debt deal and plans to ab