Bally's rescue bid: Australia casino group Star Entertainment agrees $180m
Monday 07 de April 2025 / 12:00
2 minutos de lectura
(Sydney).- Australian casino group Star Entertainment (SGR.AX), opens new tab said on Monday it had agreed to a A$300 million ($179.70 million) rescue package from U.S. group Bally's (BALY.N), opens new tab that will hand over control of the embattled group.
The investment will be made through multi-tranche convertible notes and subordinated debt instruments, Star said in an Australian Securities Exchange filing.
The first of the payments, about $A100 million, will be made by Wednesday, Star said, that would enable the Sydney-based group to remain afloat.
The remainder will be paid following a Star shareholder vote and the deal receiving regulatory approval, the filing said. A shareholder vote is due to be held in late June, Star added.
Star said the convertible notes would ultimately give Bally's control of about 56.7% of the Australian company on a fully diluted basis.
The company added it was in talks with its largest shareholder, Australian billionaire Bruce Mathieson, to contribute about $A100 million of the investment package. If that proceeds, Bally's investment would be reduced to $A200 million.
Sydney-based Star, Australia's second-largest casino operator, has been scrambling to stave off bankruptcy as years of regulatory scrutiny and lawsuits following money laundering allegations have left it cash-strapped and with limited lifelines.
Its shares remain suspended from trading on the Australian Securities Exchange as it continues to be unable to lodge its half-year results in the absence of an appropriate refinancing proposal.
Categoría:Casino
Tags: Sin tags
País: Australia
Región: Oceania
Event
Peru Gaming Show 2025
18 de June 2025
Facephi presented its digital identity verification solutions for the online gaming sector in Peru at PGS 2025
(Lima, SoloAzar Exclusive).- Facephi is consolidating its position as a strategic partner for responsible online gaming in Peru, presenting advanced identity verification, fraud prevention, and regulatory compliance solutions at PGS 2025, adapted to an increasingly digital and demanding ecosystem. In this interview, Bruno Rafael Rivadeneyra Sánchez, the firm's Identity Solutions Senior Manager, explores how its technology is redefining gaming security standards, with a preventative, seamless, and 100% regional approach.
Friday 18 Jul 2025 / 12:00
From PGS 2025, Win Systems Redoubles its Commitment to Peru: Innovation, Proximity, and Regional Expansion
(Lima, SoloAzar Exclusive).- In a revealing interview, Galy Olazo, Country Manager of Win Systems in Peru, analyzes the company's strategic role in one of the most thriving markets in the region. Its participation in the PGS 2025 trade show not only left its mark with its technological advances, such as the new Gold Club Colors electronic roulette wheels and the WIGOS management system, but also reaffirmed its commitment to the transformation of the sector and its consolidation in Latin America.
Tuesday 15 Jul 2025 / 12:00
Key debate during PGS 2025: Enforcement: Process to ensure compliance (laws, norms, rules)
(Lima, SoloAzar Exclusive).- During the 2025 edition of the Peru Gaming Show, the conference ‘Enforcement: Process to ensure compliance (laws, norms, rules)’ took place, with an international panel of professionals who debated about the current challenges to combat illegal gaming and guarantee the application of the laws in the sector, both in Peru and in the Latam region.
Monday 14 Jul 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.