• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 6 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Chow Tai Fook and Far East Enterprises claim Star Entertainment Group stake in new Strategic Alliance

Ben Blaschke by Ben Blaschke
Wed 28 Mar 2018 at 22:48
Hong Kong’s Far East Consortium reports first full year gaming revenue after Australian, European acquisitions

Star’s AU$3.6 billion Queen’s Wharf Brisbane development

Print Friendly, PDF & Email

Hong Kong’s Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC) have entered into a Subscription Agreement that will see each of them claim a 4.99% stake in Australian casino operator Star Entertainment Group as part of a new Strategic Alliance.

Under the terms of the Subscription Agreement, CTFE and FEC will each acquire 45.8 million new fully paid ordinary shares for a total consideration of AU$245 million each.

The companies also intend to submit applications to the NSW Independent Liquor and Gaming Authority and the Queensland Office of Liquor and Gaming Regulation to gain the right to increase their shareholding in The Star to over 10%. However, the Subscription Agreement as it stands limits their combined holdings to a maximum of 19.9%, subject to “certain exceptions.”

In a Thursday morning announcement, Star Entertainment Group said that the Subscription Agreement “underpins the strategic partnership and better aligns the interests of The Star’s strategic joint venture partners with the long-term growth and financial performance of The Star.”

Star, CTFE and FEC are already partners in the AU$3 billion Queen’s Wharf Brisbane development that is set to transform the city’s riverside entertainment precinct.

The Subscription Agreement forms part of a broader Strategic Alliance between the trio that includes a commitment by the parties to jointly pursue major growth developments in and around The Star’s properties in Sydney, Brisbane and the Gold Coast to increase their scale and appeal. The partnership will also establish a marketing alliance to drive high-end tourism.

As part of the Strategic Alliance, Star Entertainment Group will have exclusivity on any new Australian or New Zealand casino or gaming developments pursued by CTFE or FEC.

Among the expansion developments proposed as part of the Strategic Alliance is the development of a new underground train station alongside The Star Sydney in Pyrmont, in partnership with the NSW Government.

CTFE and FEC will also become involved in supporting and pursuing The Star Gold Coast Precinct Masterplan including up to five joint venture towers with potential for hotel and residential developments as well as expanded entertainment, tourism and retail developments.

Commenting on the new Strategic Alliance, Star Entertainment Group Chairman John O’Neill said, “The board welcomes CTFE and FEC as shareholders in The Star.

“Our expanded strategic partnership recognizes the strength of our relationships built over the last four years and the shared vision of investing in properties with valuable long-term licenses in sought after destinations.

“The complementary skills and business possessed by each partner have contributed over the past four years to creating long-term value for all shareholders, commencing with Queen’s Wharf Brisbane.

“This deal ensures a greater strategic and economic alignment of our collective interests and continues The Star’s commitment to deliver growth investments through a capital efficient structure.”

RelatedPosts

Ciarán Carruthers: Crowning glory

Crown Resorts rolls out AI to improve player protection abilities

Fri 5 Sep 2025 at 05:37
Summit Ascent shareholders pave way for Suncity to take majority stake

LET Group and Summit Ascent report improved 1H25 performance on Tigre de Cristal upgrades, addition of export business in Russia

Mon 1 Sep 2025 at 05:16
The Star Sydney’s casino license in limbo as final report from second inquiry handed to regulator

Son of Star’s largest shareholder joins Star Entertainment Group board as non-executive director

Sun 31 Aug 2025 at 09:16
Melco prices US$750 million Senior Notes offering

Melco Resorts parent Melco International back in the black with US$45 million 1H25 profit

Sun 31 Aug 2025 at 08:45
Load More
Tags: AustraliaBrisbaneChow Tai Fook EnterprisesCTFEFar East ConsortiumGold CoastHong KongJohn O’NeillNew ZealandNSW Independent Liquor and Gaming AuthorityQueensland Office of Liquor and Gaming RegulationStar Entertainment Groupstrategic allianceSubscription AgreementSydneyThe Star Gold Coast Precinct Masterplan
Share9Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

IAG announces 19 sponsors of IAG EXPO’s Manila After Dark Official Welcome Event at Newport World Resorts on Monday 8 September

IAG announces 19 sponsors of IAG EXPO’s Manila After Dark Official Welcome Event at Newport World Resorts on Monday 8 September

by Newsdesk
Fri 5 Sep 2025 at 10:26

Inside Asian Gaming is delighted to announce a total of 19 sponsors for Manila After Dark (MAD) next Monday 8 September – the official welcome event for IAG EXPO, taking place at Manila’s Newport World Resorts. Running from 8 to 10 September,...

MGM Cotai

Bill Hornbuckle: Macau promotional environment now locked in place despite rapid return of VIPs

by Ben Blaschke
Fri 5 Sep 2025 at 06:45

Macau’s notoriously aggressive promotional environment has settled into a rhythm, according to MGM Resorts CEO and President Bill Hornbuckle – despite competition in the premium gaming segments rising as former junket players return to the city in swathes. Hornbuckle discussed...

AGEM Index up 14.4% in October on Aristocrat, Light & Wonder stock price gains

AGEM Index grows 5% in August as Konami, Aristocrat show strong stock performance

by Newsdesk
Fri 5 Sep 2025 at 05:56

The AGEM Index – a monthly stock performance guide comprising 10 global gaming suppliers – grew by 5.0% month-on-month or 93.66 points to 1,983.73 points in August, with Konami seeing the largest positive contribution. Konami had only last month been...

A New Macau

Macau GGR now seen hitting US$31.8 billion as Jefferies again upgrades 2025 revenue forecast

by Ben Blaschke
Fri 5 Sep 2025 at 05:40

Investment bank Jefferies has again upgraded its Macau GGR forecast for 2025, with analysts now expecting gaming revenues to reach MOP$248 billion (US$31.8 billion) – revised upwards from its previous forecast of MOP$237 billion (US$29.3 billion). In a note, Jefferies...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English