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Star Entertainment Group Limited ( (AU:SGR) ) has shared an update.
The Star Entertainment Group Limited has addressed media speculation regarding its 50% interest in the Destination Brisbane Joint Venture, confirming receipt of non-binding proposals from Chow Tai Fook Enterprises Limited and Far East Consortium International Limited to acquire this stake and other assets. However, after careful evaluation, the proposals were deemed insufficient in value. The company is still negotiating potential terms but highlights ongoing liquidity challenges, with uncertainty about securing definitive arrangements to improve its financial position and continue operations.
More about Star Entertainment Group Limited
The Star Entertainment Group Limited is a company operating in the entertainment and hospitality industry, primarily focused on integrated resort management. It holds significant assets and joint ventures in Australia, including a 50% interest in the Destination Brisbane Joint Venture, which owns The Star Brisbane integrated resort.
YTD Price Performance: -9.17%
Average Trading Volume: 173,873
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $197.7M
Learn more about SGR stock on TipRanks’ Stock Analysis page.
