The company has reached an agreement to sell the Treasury Brisbane Casino building to Griffith University.
Australia.- The Star Entertainment Group has announced that its Queensland subsidiary has reached an agreement to sell its leasehold interest in the Treasury Brisbane Casino building to Griffith University for AU$67.5m (US$45.5m). The sale will generate net proceeds of AU$60.7m (US$40.9m).
The casino operator said the sale is subject to conditions including relevant government consent and a new lease being granted and registered, targeted to occur on or around September 27. The Star Entertainment Group closed the Treasury Brisbane Casino on August 25 as part of preparations for the staged opening of The Star Brisbane at Queen’s Wharf. The venue soft-opened on August 29.
