Star Entertainment Faces Collapse as $940 Million Refinancing Deal Falls Through

The Australian casino operator warns of 'material uncertainty' about its future while pursuing alternative funding options, including a potential equity injection from Bally's Corporation.

• Star Entertainment's $940 million refinancing agreement with Salter Brothers has collapsed, leaving the company on the brink of administration.
• The company is urgently exploring alternative funding sources, including a proposed equity injection from US-based Bally's Corporation.
• Star has warned of 'material uncertainty' regarding its ability to continue as a going concern, with no clear timeline for securing new funding.
• The company faces additional financial strain from significant fines related to money laundering violations and ongoing regulatory scrutiny.
• Star's shares remain suspended from trading as it struggles to finalize its financial accounts and stabilize operations.

4 Articles

The Sydney Morning Herald Australian Broadcasting Corporation ReadWrite