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The Star Gold Coast Masterplan

In Total Tourism Assets
$ 1 b
Construction & Operational Jobs
1
New Hotels
1
Hotel & Apartment Rooms
1

In November 2018, the Queensland Government approved a $2 billion-plus masterplan for further tourism assets at The Star Gold Coast, located on Broadbeach Island.

If delivered in full, the mega masterplan – developed by The Star Entertainment Group and its consortium partners, Chow Tai Fook Enterprises and Far East Consortium – would see The Star Gold Coast boast more tourism accommodation than any other resort in Australia. At around 3,000 hotel rooms and apartments, it would be on par with the world-renowned Marina Bay Sands in Singapore offers, and be on a scale similar to the largest integrated resorts in Las Vegas.

The Star committed to delivering the investments with no extra poker machines.

The approved masterplan allows for: more accommodation (hotels and apartments) across a further four towers; exciting new restaurant and bar precincts; increased entertainment and retail options; and lush new resort facilities.

The proposal to significantly expand an already transformed The Star Gold Coast, together with construction underway at the $3.6 billion Queen’s Wharf Brisbane development, would give The Star and its consortium partners two iconic properties to drive networked tourism outcomes for South East Queensland.

In addition to the Dorsett Hotel and The Star Residence tower, which was completed in December 2021, development of a second $400 million, 63-storey mixed-use tower is currently under way as part of the masterplan, and with construction due to be completed in mid-to-late 2024.

COMMUNITY ENGAGEMENT

Our Broadbeach property has been a tourism icon on the coast for the past 35 years. Local spirit and the local community are at the heart of our activities.

Throughout May and June 2016, The Star Entertainment Group undertook a community information program to share ideas about its then proposed masterplan concept and to obtain feedback.

Weekend information sessions, a website questionnaire and a hard-copy survey were used, together with extensive media advertising and two local-distribution newsletters. The feedback was overwhelmingly supportive of the proposed masterplan and revealed strong community interest and excitement in plans for new dining and bar concepts, and more entertainment.

The Star Entertainment Group is committed to keeping the community informed of future development. We are also proud of our longstanding support of community initiatives and organisations that have been making a real difference – including Surf Life Saving Queensland and Currumbin Wildlife Hospital Foundation.

UNPRECEDENTED TOURISM NETWORK

The approved masterplan concept for The Star Gold Coast provides a once-in-a-lifetime opportunity for tourism in South East Queensland.

If delivered in full, the masterplan will increase the value of tourism investments across Queen’s Wharf Brisbane, The Star Gold Coast and the Sheraton Grand Mirage to around $9 billion.

The ongoing transformation undertaken by The Star and its partners on the Gold Coast alone will create more than $4.3 billion in tourism assets – that number including the replacement value of the original Broadbeach property and the Sheraton Grand Mirage.

The approved masterplan at the Gold Coast also enables The Star and its partners to create, with a second world-class global tourism destination, a complementary property to the integrated resort already under construction at Queen’s Wharf Brisbane.

Both properties will be showcased to attract visitors to uniquely Queensland experiences – one in an urban environment, the other in a more laidback coastal setting. In tandem, they can drive significant tourism outcomes for the SEQ region.

The Star is also building strong relationships with other tourism operators. The aim is to package the collective strength of the region into a consolidated super ‘must-see’ destination. It will encourage visitors to stay longer and spend more.

Further, The Star looks forward to working with tourism bodies on ways to help disperse tourists to other Queensland destinations, creating even further upside for regional areas and the State economy.

This approach is based on research commissioned by Tourism Events Queensland and released in October 2018. The research outlined how promoting SEQ tourism experiences in a collaborative rather than competitive manner could enable up to $20 billion in latent international visitation expenditure by 2030.

The Star Entertainment Group Limited
ABN 85 149 629 023

Registered Office
Level 3, 159 William Street
Brisbane QLD 4000

Acknowledgement of Country

The Star recognises the continuing connection to land, sea and community of First Nations peoples and we pay our respects to Elders, past and present. We respectfully acknowledge the Traditional Owners of the land on which our properties are located, the Turrbal and Jagera people of the Brisbane region, the Yugambeh language people of the Gold Coast region, and the Gadigal people of the Eora Nation in Pyrmont.

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FY2023 Modern Slavery Statement

© The Star Entertainment Group 2021

2016 SHARE SALE FACILITIES

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:

  1. registered holders of less than a marketable parcel of shares (i.e. less than $500 worth of shares on the Record Date) (Small Holding Sale Facility); or
  2. registered holders of 5,000 or less shares (but held at least $500 worth of shares) on the Record Date (Voluntary Share Sale Facility).

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:

  • 29 March 2016 (7pm) – Record Date
  • 5 April 2016 – Facility Opened
  • 17 May 2016 (5pm) – Facility Closed
  • 27 May 2016 – Payment of sale proceeds and mailing of payment advices

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:

  • 29 March 2016 (7pm) – Record Date
  • 5 April 2016 – Facility Opened
  • 17 May 2016 (5pm) – Facility Closed
  • 27 May 2016 – Payment of sale proceeds and mailing of payment advices

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.

POST DEMERGER TAX INFORMATION

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.

Click here to download the Tax Calculator
Click here to access information on the Australian Taxation Office website