Star Entertainment granted development approval

Company News

by Katrina Bullock

Star Entertainment Group (ASX:SGR) has been granted a development approval from the Queensland Government.

The approval will allow them to develop up to four additional mixed-use towers on the Star’s Gold Coast property in partnership with Chow Tai Fook and Far East Consortium International.

The development of the towers is still subject to the investment achieving a satisfactory forecast return, market conditions and receiving Board, regulatory and other approvals.

Star Entertainment Group expected the approvals and does not believe it will affect the previously provided capital expenditure guidance provided for the 2019 to 2021 financial years.

Shares in Star Entertainment Group (ASX:SGR) are trading 0.1 per cent lower to $4.82