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 
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.