WhiteHawk completes US$390m refinancing for The Star Entertainment Group
The transaction replaces The Star’s existing debt facilities and provides additional liquidity as the operator continues its financial and regulatory recovery efforts.
Australia.- The Star Entertainment Group has completed a previously announced refinancing transaction with WhiteHawk Capital Partners, securing US$390m aimed at strengthening its balance sheet and supporting ongoing operations. The move was structured through a syndicated credit facility involving a group of institutional investors, refinancing The Star’s existing debt obligations while providing additional liquidity to support operational requirements and strategic initiatives.
The Star reached a non-binding term sheet with WhiteHawk in February. At the time, the Australian casino group was seeking covenant relief from lenders while working towards a longer-term refinancing solution.
“The Star is undergoing transformative change with significant operational and financial challenges,” according to Charlie Diao, Group CFO of Star. “After the A$300m equity investments from Bally’s Corporation and Investment Holdings Ltd. to right the ship, it was critical to partner with a single-source capital provider to stabilise our balance sheet. WhiteHawk Capital is an amazing partner and we welcome its commitment to help us deliver a full refinancing under urgent and challenging circumstances.”
“We are pleased to partner with The Star on this significant financing transaction,” said Alex Zuckerman, Managing Director at WhiteHawk Capital Partners. “The transaction highlights WhiteHawk’s ability to provide speed, certainty, and flexible structuring in complex, highly regulated situations. Our team worked closely with the Company and its stakeholders to deliver a comprehensive refinancing solution tailored to The Star’s operational and capital structure needs.”
