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Star Entertainment Group Limited ( (AU:SGR) ) has provided an announcement.
The Star Entertainment Group Limited announced an update regarding its negotiations with joint venture partners Chow Tai Fook Enterprises Limited and Far East Consortium International Limited concerning the Destination Brisbane Consortium (DBC) transaction. The company received a notice to terminate the Heads of Agreement (HoA) due to unresolved commercial issues, with the termination set to take effect unless withdrawn. Despite this, The Star remains open to continue negotiations. Additionally, The Star has secured $58 million from the Event Centre sale and $133 million in funding from Bally’s Corporation and Investment Holdings, which may impact its financial positioning.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.29 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
More about Star Entertainment Group Limited
The Star Entertainment Group Limited operates in the entertainment and hospitality industry, primarily focusing on casino and resort operations. The company is known for its integrated resorts and entertainment venues, catering to both domestic and international markets.
YTD Price Performance: -23.68%
Average Trading Volume: 14,386,892
Technical Sentiment Signal: Sell
Current Market Cap: A$415.6M
See more data about SGR stock on TipRanks’ Stock Analysis page.