The Star completes exit from Destination Brisbane Consortium

The casino operator has finalised Stage 1 of its asset disposal to Chow Tai Fook and Far East Consortium.

Australia.- The Star Entertainment Group has completed the sale of its 50 per cent equity interest in the Destination Brisbane Consortium (DBC), the entity that owns the Queen’s Wharf Brisbane integrated resort. It sold the stake to Chow Tai Fook Enterprises Limited and Far East Consortium International Limited.

The transaction, announced in August 2025, was structured in two stages. Stage 2 will see the disposal of additional assets, including the Gold Coast joint venture holdings and the Treasury Hotel in Brisbane. The group expects conditions expected to be satisfied during the second half of the year or no later than March 31, 2027.

The Star will continue to maintain an operational role under revised terms. From April 1, 2026, the company will receive a fixed annual casino operator fee of AU$18m (US$12.4m), paid monthly, alongside a performance-based incentive component linked to EBITDAM performance metrics.

The updated agreement also introduces a performance-based termination right for DBC, allowing the consortium to end the casino management agreement with at least 90 days’ written notice under certain performance conditions.

Completion of Stage 1 satisfies a key condition precedent tied to The Star’s new financing facilities with WhiteHawk, enabling the release of the company’s guarantee under the Queen’s Wharf debt facilities, which is expected to strengthen the group’s financial position.

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The casino operator has finalised Stage 1 of its asset disposal to Chow Tai Fook and Far East Consortium. Australia.- The Star Entertainment Group has completed the sale of its 50 per cent equity interest in the Destination Brisbane Consortium (DBC), the entity that owns the Queen’s Wharf Brisbane integrated resort. It sold the stake…