• The Star Entertainment Group has completed the divestment of The Star Sydney Event Centre and other additional spaces to Foundation Theatres for $60 million
• The $60 million exclusivity fee paid by Foundation Theatres has been released to The Star as consideration for the disposal
• The NICC has proposed certain conditions, including that the proceeds must be held in escrow

The Star Entertainment Group Limited (ASX code: SGR) has announced the completion of the divestment of The Star Sydney Event Centre and other additional spaces within The Star Sydney complex (Event Centre Assets) to Foundation Theatres for $60 million. The $60 million exclusivity fee paid by Foundation Theatres into escrow has now been released to The Star as consideration for the disposal. As part of the NSW Independent Casino Commission's (NICC) consent to the transaction, it proposed certain conditions, including that the proceeds from the transaction ($58.1 million) must be held in escrow. Under those arrangements, amounts may be released from escrow with the NICC's consent, with the full amount to be released the day after shareholder approval is obtained for the $300 million strategic investment into The Star under the binding terms sheet with Bally's Corporation as announced by the Company on 7 April 2025. If shareholder approval is not obtained, then The Star may request the release of the amounts in escrow subject to the Group's satisfaction of certain financial viability conditions.