From presentation: Star Vegas EBITDA of USD 63.3 million...

From presentation:
Star Vegas EBITDA of USD 63.3 million exceeded target of USD 60 million
Total Revenue: 3,128m Thai Baht
Operating Expenses (882.8m) Thai Baht
EBITDA 2,245m Thai Baht
NPAT 2,103.2m Thai Baht

Using a 30 June exchange rate of 1 THB = .028466 USD:
EBITDA of 2,245mTHB equals USD$63.9m

From those figures, it appears the property level EBITDA on its own (without the impact of a valuation uplift) was the reason for the performance payment being made.

i presume they use an average rate throughout the year, since the USD figure doesn't match.

Going forward, the new management agreement relating to Star Paradise is going to add another 5million THB (net of expenses) each month or 1.75m USD which is going to ensure that the management fee will be paid again but is a positive longer term.

The vendor would have been pretty confident of the EBITDA being >US60m and knowing they'd receive the fee that would have been how the sale price was reached. So it is not at all surprising that the company has had to pay the management fee to the Thai partner. I think it would be a lot worse if EBITDA was well below US$60m as that would mean the asset is going terribly.

Overall, cash flow is strong, valuation is not excessive, dividends have started, debt is being paid off, P/B is now <1, the company is growing, non-recurring items are non-recurring, interest costs are coming down.
Sounds reasonable for a company on a P/E<10