The Star has also announced an agreement to dispose of itsstake in Destination BrisbanAustralia.-The Star Entertainment Grouphas announced that it has received an unsolicited, non-binding proposal for additional funding from Bally’s Corporation. The proposal includes a capital increase of at least A
The company has also received a debt refinancing proposal from a potential lender.Australia.- The Star Entertainment Group has announced that it has signed a financing commitment letter for a senior secured AU$250m (US$157.8m) bridge facility with funds managed by King Street Capital Management.The
ASIC’s case against former Star Entertainment executives and directors has started this week at the Federal Court in Sydney.Australia.-TheAustralian Securities and Investments Commission (ASIC) has initiated Federal Court civil penalty proceedings against 10 current and former board members ofThe St
CasinoBeats is breaking down the numbers behind some of the industry’s biggest stories. Our latest headline reflection features another round of third-quarter financials from the likes of IGT, Flutter and GiG, as well as an update on New Zealand regulation.2%IGT declared revenue for Q3 of $587m, dow
Revenue was down 18 per cent year-on-year.Australia.- The Star Entertainment Group has shared its financial results for the first quarter of its financial year. It posted revenue of AU$351m (US$230.85m), down 18 per cent year-on-year and 11 per cent sequentially. Earnings before interest, taxes, dep
The Star has responded to a letter from the Australian Securities Exchange.Australia.- The Star Entertainment Group has addressed questions from the Australian Securities Exchange (ASX) regarding its decision not to recognise an AU$1.44bn (US$966bn) non-cash impairment charge in its financial report
The NSW Independent Casino Commission’s appointed manager will continue to have oversight of casino operations.Australia.- TheNew South Wales Independent Casino Commission(NICC) has decided to extend the suspension on The Star Entertainment’s casino licence in the state. It has also fined the casino
There is no timetable for a decision.Australia.-The New South Wales Independent Casino Commission (NICC)has received The Star Entertainment Group’s response to a show cause notice that demanded it provide reasons why it should not face disciplinary action for breaches mentioned in the second Bell Re
The Star Entertainment Group has secured a new debt facility of up to AUS$200m from its corporate lenders, to be delivered in two tranches.Effective upon completion of long-form documentation and satisfaction of various conditions precedent, the group’s existing $450m facility has now been reduced t
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