Star Signs Last-Minute Deal to Stave Off Collapse, AFR Reports

Star Entertainment Group Ltd. has signed a last-minute deal to sell its stake in its Brisbane casino resort to its Hong Kong partners and stave off collapse, the Australian Financial Review reported.

The deal will see Star’s joint venture partners take full control of the Brisbane casino and resort for about A$50 million ($32 million), the AFR said, citing people who declined to speak publicly because the talks are private. An announcement could be made shortly, the report said.