Star Entertainment receives $180 million rescue bid from Bally's, giving control of company

From Yahoo Finance: 2025-04-06 21:31:00

Australian casino group Star Entertainment secures A$300 million rescue package from U.S. group Bally’s, giving control of the company. The investment will be through convertible notes and debt instruments, with an initial payment of A$100 million by Wednesday. Shareholder vote in June, Bally’s to hold 56.7% control. Talks ongoing for additional investment from major shareholder Bruce Mathieson. Company struggling with regulatory issues and money laundering allegations. Trading suspended on ASX.



Read more at Yahoo Finance: Australia casino group Star Entertainment agrees $180m Bally’s rescue bid