• The Star Entertainment Group to divest The Star Sydney Event Centre and other additional spaces within The Star Sydney complex
• Transaction value of $60 million with Foundation Theatres Pty Limited
• Transaction subject to finalisation of long-form documents and regulatory approvals
• Proceeds to be held in the Group's disposal proceeds account as restricted cash

The Star Entertainment Group Limited (ASX code: SGR) has announced that its wholly-owned subsidiary, The Star Entertainment Sydney Properties Pty Ltd, has executed an exclusivity arrangement and binding term sheet to divest The Star Sydney Event Centre and other additional spaces within The Star Sydney complex (Event Centre Assets) to Foundation Theatres Pty Limited for $60 million, subject to settlement adjustments. Foundation Theatres will pay a $60 million exclusivity fee into escrow, which will be released to The Star upon completion of the transaction. The transaction is subject to finalisation of long-form transaction documents and a number of customary conditions, including relevant government and regulatory consents. Entry into long-form documents and completion of the transaction are currently targeted to occur by 28 February 2025. The CEO of The Star, Steve McCann, stated that the company is pleased to partner with Foundation Theatres as part of the continued evolution of its broad entertainment offerings at The Star Sydney, and that the Group continues to work on a number of other potential non-core asset transactions.