US EditionStar gets last-minute $250m cash injection offer from US casino giant
- Star Entertainment has received a new proposal from Bally's Corporation, which seeks to inject a minimum of $250 million into the company by March 28, 2025.
- Star Entertainment previously struck a deal to sell its 50 percent stake in Queen's Wharf for $53 million to Hong Kong investors, thereby avoiding immediate collapse.
- Bally's Corporation described its proposal as an 'alternative path' that would provide long-term capital and is currently under consideration by Star's board.
- Star's current measures did not completely eliminate the risk of collapse, suggesting that the new proposal from Bally could offer more options for stability.
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US Casino Giant Makes Late $250 Million Play to Save Star, Open to Even Bigger Deal
Embattled casino operator Star is considering a deal that would put a U.S. casino player at the helm, in an eleventh-hour offer that could turn the group’s fortunes around. Bally’s Corporation, which owns and operates 19 casinos in 11 U.S. states, has proposed a last-minute $250 million recapitalisation plan in exchange for a controlling, 50.1 percent minimum stake in the casino operator. Star’s board notified shareholders of the offer in an ASX…
·New York, United States
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Leaning Left2Leaning Right5Center0Last UpdatedBias Distribution71% Right
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