Australia’s Star fails to secure Salter Brothers loan, eyes Bally’s previous lifeline

Star Entertainment back at risk of collapse as rescue funding deal fails

Casino owner Star is once again searching for a backer after its proposed $750 million deal with investment manager Salter Brothers fell through.

Star back on brink of collapse after $940m funding deal talks fail

Star Entertainment remains on the brink of collapse after a $940 million funding deal to secure the company's future fell through.The casino operator confirmed this morning that talks with local investment managers Salter Brothers over a potential refinancing agreement have broken down because it did not believe it could meet the requirements of a deal in time to save the company."The Star has continued to work diligently with Salter Brothers C…

Australia’s Star fails to secure Salter Brothers loan, eyes Bally’s previous lifeline

(Reuters) – Australia’s Star Entertainment said on Wednesday that its refinancing proposal with investment group Salter Brothers Capital worth up to A$940 million ($590.70 million) has now been withdrawn. The embattled casino firm said that a number of conditions precedent to the Salter Brothers proposal were unlikely to be satisfied in sufficient time to meet the current liquidity needs of the company, highlighting in particular not meeting the…

Star’s Survival Hopes Dim as Debt Refinancing Plan Collapses

Star Entertainment Group Ltd.’s hopes of survival took a blow with the collapse of a refinancing proposal that could have provided total debt capacity of as much as A$940 million ($591 million).

Star on the brink again as $940m lifeline falls through

Star Entertainment may have just days to pull off a deal that would stave off collapse, as it teeters on the brink for the third time in as many months.

Star turns to US casino giant Bally’s as $750 million lifeline fails

Star was trying to reach a deal with its potential funder until late on Tuesday, but had failed to agree to terms including how to meet its near-term costs.