Australia’s Star Entertainment Group said Tuesday it has extended by a week an exclusivity and process deed with private equity firm Salter Brothers Capital while the two companies continue working on a debt refinancing package for the troubled casino operator.
The original exclusivity period had been due to expire today, Tuesday 25 March, at a time when US casino operator Bally’s Corp is waiting in the wings with an alternate proposal.
In a filing, Star said it had agreed to extend the exclusivity and process deed until 1 April 2025 at the request of Salter Brothers which has advised it is working towards making a binding offer of finance by 31 March. If Star accepts this proposal, a further period of exclusivity would follow to enable preparation of long form facility documentation and finalization of conditions precedent, the casino operator added.
