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Far East considering Czech spin-off

Far East considering Czech spin-off

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Global property developer, Far East Consortium International, has been granted permission by the Hong Kong Stock Exchange to explore a potential spin-off and separate listing of its Czech gaming business interests.

The Czech business consists of three casinos and one hotel, operating under the Palasino brand, plus three hotels in Germany one in Austria.

Far East also owns a 4.99% stake in Australia’s Star Entertainment Group and is a 25% partner, alongside Chow Tai Fook (25%) and Star (50%), in the development of the AU3.6bn Queen’s Wharf Brisbane integrated resort, due to open later this year.

Despite the preparatory announcement, a company statement added: “There is no assurance that the potential spin-off will proceed or as to when it may take place.”