Star Entertainment expand HK partnerships

Company News

by Rachael Jones

Star Entertainment Group(ASX:SGR) is expanding its partnership with two Hong Kong businesses with a 5 per cent stake in the casino operator.

Cho Tai Fook Enterprises and Far East Consortium equity investment is via a $490 million placement.

The two are Star's joint venture partners in its Gold Coast development.

Star said the move was part of a strategic alliance that will increase its appeal to overseas visitors and allow it to lift its dividend payout ratio to shareholders.

Shares in Star Entertainment Group(ASX:SGR) up 2.46% to $5.41 

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