The company has reached an agreement to sell the Treasury Brisbane Casino building to Griffith University.<\/p>\n\n\n\n\n\n\n\n
Australia.- The Star Entertainment Group <\/strong>has announced that its Queensland subsidiary has reached an agreement to sell its leasehold interest in the Treasury Brisbane Casino building <\/strong>to Griffith University for AU$67.5m (US$45.5m). The sale will generate net proceeds of AU$60.7m (US$40.9m).<\/p>\n\n\n\n The casino operator said the sale is subject to conditions including relevant government consent and a new lease being granted and registered, targeted to occur on or around September 27. The Star Entertainment Group closed\u00a0the Treasury Brisbane Casino<\/a>\u00a0on August 25 as part of preparations for the staged opening of\u00a0The Star Brisbane at Queen\u2019s Wharf. The venue soft-opened on August 29<\/a>.<\/p>\n\n\n\n Meanwhile, the company announced that it is reviewing its financial and liquidity position<\/a> following the New South Wales Independent Casino Commission (NICC)\u2019s release of the report on Adam Bell SC\u2019s second inquiry<\/a>. It said it is working with various advisers to finalise its preliminary financial report for the financial year ended June 30 and is in discussions with stakeholders about its liquidity position.<\/p>\n","protected":false},"excerpt":{"rendered":" The company has reached an agreement to sell the Treasury Brisbane Casino building to Griffith University.<\/p>\n","protected":false},"author":176,"featured_media":20685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Star Entertainment Group's Queensland subsidiary has agreed to divest its leasehold interest in the Treasury Brisbane Casino building to Griffith University for AU$67.5m, generating AU$60.7m in net proceeds. This strategic asset sale coincides with the closure of Treasury Brisbane and the phased opening of The Star Brisbane at Queen\u2019s Wharf. Concurrently, the company is reviewing its financial and liquidity position following the New South Wales Independent Casino Commission's inquiry report.","focusai_entities":"The Star Entertainment Group, Griffith University, New South Wales Independent Casino Commission, Adam Bell SC","focusai_location":"Australia, Brisbane, Queensland, New South Wales","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.88), operator_casino (0.92), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Liquidity Review Impact?","query":"What are the specific implications of The Star Entertainment Group's liquidity review on its capital expenditure plans and operational stability, particularly concerning the Queen's Wharf development?"},{"label":"Regulatory Consent Timeline?","query":"What is the anticipated timeline and potential hurdles for securing the necessary government consent for the Treasury Brisbane Casino building sale, and how might this impact the targeted September 27 completion?"}],"footnotes":""},"categories":[16336,157],"tags":[23871],"class_list":["post-777018887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777018887"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018887\/revisions"}],"predecessor-version":[{"id":777018896,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018887\/revisions\/777018896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20685"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777018887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}