An American casino operator controlled by a New York hedge fund has joined the opportunists sniffing around embattled Star Entertainment Group, which is on its last legs and desperately seeking a capital injection to avoid administration.
The Australian Financial Review can reveal Bally’s Corporation, which has 19 casinos across 11 American states, sent representatives to Australia to meet Star and visit its casinos last week, and has also met key Star shareholders and lenders.
Sources close to the situation, who declined to speak publicly because the talks were private, said Bally’s representatives included its chairman, Soo Kim, whose hedge fund Standard General took control of the American casino owner in a $US4.6 billion deal earlier this month.
