Our vision, to become Australia’s leading integrated resort company is underpinned by multi-million-dollar projects across Brisbane, Gold Coast and Sydney. Together, these projects will transform the cities in which we operate and deliver significant economic and tourism benefits to our local communities.
A sustainable tourism and business opportunity underpins The Star Entertainment Group’s transformational projects at The Star Gold Coast, Queen’s Wharf Brisbane and in Sydney.
These developments will lead to significant growth in intra-state, interstate and international visitation, and help drive the global appeal and aspiration of each location.
Data from Tourism Research Australia and the Australian Bureau of Statistics continues to support the assertion that strong growth in the tourism sector will continue, embedding it as a significant long-term driver of the Australian economy.
The Star’s projects, together with its partners, will also create thousands of jobs locals, both in construction and once the developments are operational.
Growth in inbound tourism has been driven by Asia, particularly China where the more affluent middle-class, already at significant scale, continues to expand. China remains the largest and fastest growing market for international visitation to Australia.
The Star Entertainment Group is developing world-class global tourism destinations, at an unprecedented scale in South East Queensland, to leverage this tourism opportunity.
Resorts of critical mass, offering a diversity of offerings from hotel and residential accommodation, to an array of restaurants and bars, while also providing conference and event facilities, retail, entertainment and cultural activities, and other attractions, will create tourism hubs of considerable appeal for locals and visitors alike.
The $3.6 billion Queen’s Wharf development is set to transform Brisbane. The integrated resort will feature 12 football fields of open space, four hotels, 50 cafes, bar and restaurants and a 1,500-seat ballroom.
Expected to open in the first half of 2023, it will create a vibrant new tourism playground within the Brisbane CBD and put the city on the global map.
In November 2018, the Queensland Government approved an $2 billion-plus expanded Gold Coast Master Plan.
If fully delivered, it will include a further four hotel and apartment towers, exciting new restaurant and bar precincts; increased entertainment and retail options; and lush new resort facilities.
Delivered in December 2020, the NSW Government’s “Pyrmont Peninsula Place Strategy” maps out future growth in the local area and how it relates to the local community, local businesses, tourism and entertainment.
The plan includes provisions for construction of two hotel towers at The Star Sydney’s site which would deliver $1 billion in investment to drive economic stimulus and create up to 2,000 jobs.
Chow Tai Fook Enterprises is the flagship investment holding company for the Cheng family in Hong Kong. It is one of Asia’s largest diversified conglomerate with interests in real estate, consumer and hospitality sectors globally and a proven track record in long-term tourism and infrastructure investments.
Chow Tai Fook Enterprises has significant financial capacity to support large scale international development and highly complementary VIP relationships in Greater China and Asia.
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.