Local media reports claim that embattled Australian casino operator Star Entertainment Group is set to offload its recently opened The Star Brisbane integrated resort as part of a new deal with its Hong Kong partners aimed at staving off administration.
According to the Australian Financial Review, the deal with Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC) would include an immediate injection of AU$50 million in cash although further details around the future of the AU$1.6 billion property – such as total cash consideration and whether Star would continue operating the casino in some sort of management-only deal – have yet to be revealed.
