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Highlights:
- SGR confirms binding HoA with JV partners has been terminated effective 31 July 2025
- The Star Entertainment Group to retain key equity interests in DBC, DGCC, and Brisbane assets
- The company faces repayment obligations totalling approximately AUD 41 million by September 2025
The Star Entertainment Group Limited (ASX:SGR) has announced that the previously extended binding Heads of Agreement (HoA) with its joint venture partners Chow Tai Fook Enterprises Limited and Far East Consortium International Limited has now been formally terminated. This decision follows unsuccessful negotiations over outstanding commercial matters and the rejection of The Star’s proposal to further extend the HoA termination date to 6 August 2025. The terminated HoA involved The Star's interests in the Destination Brisbane Consortium (DBC), the Destination Gold Coast Consortium (DGCC), and associated assets. Initially announced in March 2025, the agreement aimed to reshape the ownership and capital structure of these joint ventures. However, the inability to reach consensus on key issues has resulted in the lapse of the agreement, which had most recently been extended to 31 July 2025.
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