• The Star has completed the first stage of the transaction with CTFE and FEC
• The DBC Casino Operator Fee payable to The Star has been revised
• A new performance-based termination right has been agreed for DBC

The Star Entertainment Group Limited (ASX: SGR) has completed the first stage of the transaction with Chow Tai Fook Enterprises Limited (CTFE) and Far East Consortium International Limited (FEC), disposing of its interest in Destination Brisbane Consortium (DBC), the owner of the Queen's Wharf Brisbane Integrated Resort. As part of the transaction, the parties have agreed to revise the terms of the DBC Casino Operator Fee payable to The Star. Effective from 1 April 2026, the fee will comprise a fixed annual fee of $18 million payable monthly, as well as a performance-based incentive fee based on EBITDAM. Additionally, a new termination right has been agreed, allowing DBC as the Owner to terminate the Casino Management Agreement in certain performance-based circumstances with 90 days' written notice. The completion of the first stage of the transaction is a condition precedent under The Star's new financing facilities from WhiteHawk, and this condition has now been satisfied. The parties continue to work towards the completion of the remaining assets, including the DGCC and the Treasury Hotel in Brisbane, with the expectation of satisfying the conditions precedent during the second half of the 2026 calendar year and by no later than 31 March 2027.