Australia’s Star Entertainment to get $33 million from Hong Kong investors in asset swap deal

Australia’s Star Entertainment will receive a total balance payment of A$53 million ($33.41 million) in an asset swap deal with its Hong Kong investors Far East Consortium International and Chow Tai Fook Enterprises.

Under the deal, Star will sell its 50 per cent stake in its Queen’s Wharf precinct in Brisbane to the two parties and, in turn, acquire the parties’ 66.67 per cent stake in the Gold Coast project in Queensland, Far East said on Friday.

($1 = 1.5863 Australian dollars)