WE ASPIRE TO BE AUSTRALIA’S LEADING INTEGRATED RESORT COMPANY … by offering the best variety of gaming, food, beverage, hospitality tourism and entertainment experiences for all guests.
The Star Entertainment Group is an ASX 100 listed company that owns and operates The Star Sydney, The Star Gold Coast and Treasury Brisbane. The Star Entertainment Group has also acquired the Sheraton Grand Mirage on the Gold Coast in a joint venture and manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government.
The Star Entertainment Group is committed to optimising its properties, supporting the communities in which we operate, and capitalising on the opportunities presented by our world-class locations in Sydney, Brisbane and Gold Coast. The Star Entertainment Group’s vision, to become Australia’s leading integrated resort company, is underpinned by multi-billion-dollar transformational projects planned or in progress across its properties.
The Star Entertainment Group and its joint venture partners Chow Tai Fook Enterprises and Far East Consortium are developing the $3.6 billion Queen’s Wharf Brisbane project. Expected to open in 2022, Queen’s Wharf will deliver transformational impacts on Queensland jobs, training and tourism, both domestic and international.
The Star Gold Coast has undergone an extraordinary $850 million transformation since 2014 including the opening of all-suit luxury hotel The Darling, redeveloped the 5-star The Star Grand and current construction of the internationally-acclaimed Dorsett hotel and apartments tower, which is expected to open in 2022. On 2 November 2018, the Queensland Government approved The Star Gold Coast’s expanded $2 billion-plus master plan. If fully delivered, the master plan will add four additional hotel and apartment towers, including world-class resort and entertainment facilities, new dining precincts, a luxury day spa and wellness centre and tropical recreation areas.
In December 2020, the New South Wales Government released the final Pyrmont Peninsula Place Strategy, which includes provisions for The Star Sydney to invest up to $1 billion to develop two hotel towers. One tower would feature a six-star luxury hotel with a signature restaurant, other dining and bar options and world-class resort amenities. The second tower would showcase a hotel a new retail precinct, additional food and beverage offerings and apartments.
The Star Entertainment Group announced on 5 April 2016 share sale facilities that provided eligible small shareholders the opportunity to sell their shares without incurring any brokerage or handling costs.
Participation in the separate share sale facilities were open to eligible shareholders whose registered address was in Australia or New Zealand as at 7.00pm (Sydney time) on 29 March 2016 (Record Date) and who were:
On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form (for the Small Holding Sale Facility) or a Sale Instruction Form (for the Voluntary Share Sale Facility), and Terms and Conditions for the relevant share sale facility.
Both share sale facilities closed at 5:00pm (Sydney time) on 17 May 2016 (Closing Date).
All participants who had their SGR shares sold under either the Small Holding Sale Facility or the Voluntary Share Sale Facility received the same average price of $5.51 per share, which was calculated by dividing the total proceeds from the sale of all SGR shares sold under the facilities by the total number of SGR shares sold under the facilities.
Payment of the sale proceeds were made to participating shareholders on 27 May 2016 in accordance with their payment instructions as recorded on the share register.
Small Holding Sale Facility
The Small Holding Sale Facility was conducted in accordance with The Star Entertainment Group’s Constitution and the Australian Securities Exchange Listing Rules that enables all listed companies to sell shareholdings valued at less than $500 (Unmarketable Parcel).
Based on a share price of $5.68, being the closing price of The Star Entertainment Group (SGR) shares on the Australian Securities Exchange on the Record Date, an Unmarketable Parcel was any holding of 88 shares or less.
Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date.
Small Holding Facility Key Dates:
Voluntary Share Sale Facility
The Voluntary Share Sale Facility was conducted in accordance with Class Order CO 08/10 issued by the Australian Securities and Investment Commission.
Eligible shareholders who wished to sell their shares under the Voluntary Share Sale Facility were required to return a Sale Instruction Form by the Closing Date.
Voluntary Holding Facility Key Dates:
For full details of the Small Holding Sale Facility and the Voluntary Share Sale Facility, please see the ASX Announcement dated 5 April 2016 in the News section of our website.
The demerger of The Star Entertainment Group (formerly known as Echo Entertainment Group Limited) from Tabcorp Holdings Limited (Tabcorp) was implemented on 15 June 2011 by way of Scheme of Arrangement pursuant to the Tabcorp Scheme Booklet dated 15 April 2011 (Demerger).
As part of the Demerger, Tabcorp sought a ruling from the Australian Taxation Office on the taxation implications for shareholders. On 29 June 2011, the Australian Taxation Office issued Class Ruling CR 2011/66, in accordance with the application made by Tabcorp. A copy of the Class Ruling CR 2011/66 can be viewed here.
A Tax Calculator is provided below to assist shareholders in calculating the Australian capital gains tax cost base allocation for Tabcorp shares and The Star Entertainment Group shares. The Tax Calculator is a general guide only and does not constitute tax advice. Shareholders should seek advice from an appropriate professional adviser on the tax implications of the Demerger based on their own individual circumstances.