US Edition
Star Entertainment's Queen's Wharf stake exit deal collapses
BRISBANE, QUEENSLAND, AUSTRALIA, JUL 1 – Star Entertainment's Hong Kong partners withdrew from the $3.6 billion Queen's Wharf Brisbane deal over unresolved commercial disputes, leaving the project with A$1.6 billion debt.
- Star has withdrawn from its $3.6 billion Queen's Wharf stake sale after shareholders approved a $300 million rescue by Bally's.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.
Insights by Ground AI
Does this summary seem wrong?
16 Articles
16 Articles
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
Read Full Article
Coverage Details
Total News Sources16
Leaning Left3Leaning Right6Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 25%
C 25%
R 50%
Factuality
To view factuality data please Upgrade to Premium
