US giant to buy stake in cash-short Australian casino group

Star CEO’s $10m loan fee farce

The distressed Star Entertainment will pay up to $10 million to a US hedge fund for a debt facility that was never used, or signed-off on.

US giant to buy stake in cash-short Australian casino group

Troubled Australian casino operator Star Entertainment says it has been thrown an 11th hour multi-million dollar lifeline by US-based casino giant Bally's Corporation.

Star Entertainment signs $300 million rescue deal - ABC listen

Embattled Australian casino group, Star Entertainment, has signed a $300 million deal with US casino giant, Bally's, to save the company from financial collapse. Star halted trading in early March, after missing its deadline to report its half-year results to the ASX. The financial turmoil of the casino group, which operates across Sydney, Brisbane, and the Gold Coast, has thrown into question the future of its 9,000 employees. Guest: Andrew Jon…

$300 million lifeline from US casino giant keeps Star alive

Star Entertainment has avoided falling into administration after securing a $300 million lifeline from US casino giant Bally's Corporation.In a statement to the ASX tonight, Star announced it had entered into a binding term sheet with Bally's that will inject $300 million into the floundering casino operator in exchange for $33.4 million in shares.Star's largest shareholder, billionaire publican Bruce Mathieson, could front up $100 million for t…

Casino giant rescues Star from brink of folding

Star Entertainment is betting on a $300 million deal to stay in the game.

Star to sign $300m lifeline

Star Entertainment has agreed to a $300m deal with a US-based casino giant which would save the Australian business from collapse, the Australian Financial Review has reported.