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Business
June 30, 2025
Star Entertainment’s DBC Exit in Peril as Partners Seek to Terminate the Arrangement
The Star Entertainment Group has published an update related to its earlier decision to exit its equity interest in Destination Brisbane Consortium (DBC). The company noted that since the conditions of its binding heads of agreement (HoA) were not met, its joint venture partners have submitted a notice to terminate the arrangement. The Star’s Partners […]
Business
June 25, 2025
The Star Entertainment’s Shareholders Give the Go-Ahead to Bally’s AUD 300M Lifeline
The Star Entertainment Group just held its General Meeting. Among other important developments, the Australian casino & hospitality giant secured shareholder approval for Bally’s AUD 300 million rescue proposal. Shareholders Greenlight Bally’s Aid In April, The Star revealed that it had entered into a binding term sheet with Bally’s Corporation with respect to a multi-tranche […]
Business
June 24, 2025
The Star Overhauls Team with Multiple Appointments
The Star Entertainment Group Limited, an Australian gaming giant, has unveiled major changes to its leadership team. The new appointments come amid continued regulatory and financial difficulties for the company. The Star Introduced Changes to Its Group Leadership In an ASX filing, The Star announced what it called a “series of executive management and subsidiary […]
Casino
June 6, 2025
Star Entertainment on the Brink Again After AUSTRAC Floats AU$400M Fine
Star Entertainment has been teetering on collapse for many years now. After Bally’s Corporation agreed to throw a lifeline to the company, offering an AU$300-million stake buyout and the promise of turning things around, there is one issue that neither company has accounted for – the Australian financial regulator’s proclivity for upholding the letter of […]
Business
May 27, 2025
The Star Entertainment Encourages Shareholders to Approve Bally’s Proposal
As The Star Entertainment Group’s next General Meeting approaches, the company asked its shareholders to consider Bally’s Corporation’s proposed takeover. The company leadership encouraged investors to greenlight the deal, highlighting that no better opportunity exists at the moment. The Star Shareholders to Vote on Bally’s Proposal In an ASX release published yesterday, The Star Entertainment […]
Casino
May 15, 2025
Bally’s Remains Confident about Future of Star Entertainment
Bally’s Corp’s play for Star Entertainment has been a well-weighted decision, argues the company’s boss, Robeson Reeves, who took the opportunity to comment on the recent investment in the operator, with the company coughing up $129 million in April to prop up the cash-strapped hospitality giant. Bally’s is Optimistic about Star Entertainment’s Fortunes Despite Difficulties […]
Business
May 1, 2025
Star Entertainment Announces Losses in Third Quarter
Earlier this week, the Star Entertainment Group explained it had swung to an operating loss in the third quarter, which ended on March 31. Star Entertainment Announces Concerning Trends The company posted a loss of A$21 million ($13.41 million) in earnings before interest, taxes, depreciation, and amortization (EBITDA), excluding significant items, compared to an EBITDA […]
Business
April 15, 2025
Star Entertainment Publishes H1 FY25 Report as Challenges Continue
The Star Entertainment Group has published its financial report for the first half of the fiscal year (H1 FY25), highlighting its continued financial trouble. The company, which recently agreed to give control to Bally’s, hopes to turn the tables soon. The Company’s Revenue Declined In the first half of the year, The Star reported AUD […]
Business
April 10, 2025
Bally’s Chair Weighs in on His Company’s Takeover of The Star Entertainment
The Star Entertainment Group, an Australian casino and hospitality operator, just entered into a binding term sheet with American casino operator Bally’s Corporation. Under the agreement, which is still subject to regulatory approval, Bally’s will take majority control and refinance The Star’s debt, solving its short-term financial problems. In an interview with Inside Asian Gaming, […]
Business
April 8, 2025
The Star Enters Binding Term Sheet with Bally’s, Completes Sydney Asset Sale
The Star Entertainment Group, Australia’s embattled casino operator, announced that it has struck a definitive debt financing deal with Bally’s Corporation. In addition to that, the former company confirmed the completion of its sale of The Star Sydney Event Centre. The Deal with Bally’s Progresses In line with its recent announcement, The Star entered into […]
