Bally’s Corp’s AU$300 million (US$180 million) bailout of Australia’s Star Entertainment Group has been described by CBRE Credit Research as a risky move that won’t resolve Star’s ongoing issues and will likely require further capital investment to improve operations.CBRE analysts have also question
Star Entertainment Group’s largest single shareholder is backing a bid from American casino operator Bally’s Corp to take a controlling stake in the company and has pledged to tip in another AU$50 million (US$31.5 million) of his own money should the deal proceed, according to local media reports.Th
Bally’s Steps in with AU$250M Offer to Help Star EntertainmentShortly after announcing an agreement to sell half of the shares of its recently opened Brisbane casino at Queens’ Wharf, Australia’s troubled casino and entertainment operator, Star Entertainment, announced it has received a cash injecti
Australia's renowned gambling giant, casino operator Star Entertainment Group (hereinafter referred to as Star), is currently in a severe financial crisis, with its capital chain at risk of breaking at any moment.Star has already notified lenders that the company's cash reserves might last only one
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
Australia's Star Entertainment is selling assets to raise cash as at least one money manager eyes purchases of the gaming company’s debt. In a Wednesday filing with the Australian Securities Exchange, the embattled operator announced the sale of The Star Sydney Event Centre and related assets to Fou
Star Entertainment Confirms Getting Queen’s Wharf BidsAt the beginning of February, it was rumored that private equity giant Blackstone was considering taking over Star Entertainment once the Australian group was placed into voluntary administration.Now, the ASX-listed owner and operator of The Star
Blackstone Could Wait for Star to Be Placed Under AdministrationBlackstone, a major alternative asset manager with over $1 trillion in assets under management, is reportedly eyeing ASX-listed group that owns and operates The Star Sydney, The Star Gold Coast, and Treasury Brisbane, Star Entertainment
Star Entertainment Divests Non-Core Assets as Search for Liquidity ContinuesThe Star Entertainment Group announced that it selling non-core assets as the group desperately seeks to secure its financial position.Star Sydney to Divest Its Event CenterIn a release submitted to the ASX, the Australian c
Star Entertainment’s Debt-Raising Capacity “Limited” as Q2 Report Shows Lower ProfitsThe Star Entertainment Group, an Australian casino & hospitality company, has published its financial report for the second quarter of the fiscal year. As the operator’s struggles continue, it reported “limited”
Almost a decade ago, executives at Star Entertainment described the planned construction of the Queen’s Wharf casino in Brisbane as a “gamechanger” for the city and the gambling company.The phrasing turned out to be prescient – but not in the way Star envisaged.A massive project cost blowout, couple
A Macau-based investor, Xingchun Wang, has raised his stake in Australia’s embattledStar Entertainment Group, increasing his shareholding to 6.52% after purchasing an additional 28.7 million shares for AU$3.16 million ($1.96 million) in the past 24 hours. This move makes Wang one of the largest shar
Australian casino heavyweight Star Entertainment Groupwarned of severe financial strain on Thursday, revealing dwindling cash reserves and intensifying concerns about its viability. Shares of the company plunged 28% following a fourth-quarter update that highlighted a steep decline in liquidity and
Star Entertainment Risks Going Bust, Putting Thousands of Jobs on the LineStar Entertainment Group, a big name in Australia’s casino and hotel business, stands on the brink of going broke. With just $79 million in the bank and growing problems, including fewer customers and over $100 million in fine
Star Entertainment Shares Drop as Company Reports Decline in CashThe Star Entertainment Group, an Australian casino and hospitality company, remains in peril amid regulatory and financial challenges. The company, which was extensively scrutinized over regulatory violations, negligence and overall la
JPMorgan Chase has exited its position as a shareholder in Australia’s Star Entertainment, according to an exchange filing from the casino operator on Monday.The investment bank previously held a 5.09% stake in Star, representing a significant portion of the company’s voting power, as disclosed in a