{"id":777024511,"date":"2025-03-26T10:11:39","date_gmt":"2025-03-26T13:11:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777024511"},"modified":"2026-04-22T00:26:38","modified_gmt":"2026-04-22T03:26:38","slug":"the-star-extends-talks-on-refinancing-deal","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/the-star-extends-talks-on-refinancing-deal","title":{"rendered":"The Star extends talks on refinancing deal"},"content":{"rendered":"\n

The exclusivity agreement with Salter Brothers Capital has been extended until April 1.<\/p>\n\n\n\n\n\n\n\n

Australia.- The Star Entertainment Group <\/strong>has announced that it has extended its exclusivity agreement with Salter Brothers Capital (SBC)<\/strong> until April 1 as discussions continue on a refinancing proposal that could provide the company with up to AU$940m (US$590m) in debt capacity. If finalised, the deal would provide sufficient liquidity for the casino operator to refinance all of its existing debt.<\/p>\n\n\n\n

SBC has advised that it is working towards submitting a binding financing offer by March 31. Should The Star accept the proposal, an additional exclusivity period would follow to allow for the preparation of long-form facility documentation and the finalisation of conditions precedent.<\/p>\n\n\n\n

However, The Star has also received a proposal from US casino operator Bally\u2019s Corporation<\/a>, which has offered AU$250m (US$157.8M)<\/strong> for a controlling stake. Bruce Mathieson, who holds 10 per cent of shares in The Star, is reported to be in favour of the offer. Bally\u2019s Corporation owns and operates 19 casinos in 11 US states and has acquired Aspers Casino in Newcastle, UK.<\/p>\n\n\n\n

The Star reaches agreement for sale of Destination Brisbane stake<\/h2>\n\n\n\n

Earlier this month, The Star entered into an agreement with joint venture partners,\u00a0Chow Tai Fook Enterprises Limited (CTFE)<\/strong>\u00a0and\u00a0Far East Consortium International (FEC)<\/strong>\u00a0to sell its\u00a050 per cent stake in Destination Brisbane<\/a>, owner of The Star Brisbane integrated resort. The Star will receive an upfront cash payment of AU$53m (US$33.4m).<\/p>\n\n\n\n

The Star will no longer receive the operator fee under the Destination Brisbane casino management agreement. Instead, it will receive a fixed fee of AU$5m (US$3.2m) per month until June 30, 2026 and AU$6m per month thereafter. The company added that it may receive up to AU$225m (US$142m) in future consideration from an earn-out mechanism regarding The Star Brisbane.<\/p>\n","protected":false},"excerpt":{"rendered":"

The exclusivity agreement with Salter Brothers Capital has been extended until April 1.<\/p>\n","protected":false},"author":176,"featured_media":26456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Star Entertainment Group has extended its exclusivity agreement with Salter Brothers Capital for a potential AU$940m refinancing, while also considering a AU$250m controlling stake offer from Bally's Corporation. Concurrently, The Star has divested its 50% stake in Destination Brisbane for an upfront AU$53m, alongside ongoing fixed management fees and potential earn-out, to enhance liquidity and strategic focus.","focusai_entities":"Salter Brothers Capital, The Star Entertainment Group, Bally's Corporation, Bruce Mathieson, Aspers Casino, Chow Tai Fook Enterprises Limited, Far East Consortium International, Destination Brisbane","focusai_location":"Australia, US, UK, Newcastle, Brisbane","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"SBC Refinancing Terms?","query":"What are the specific terms and conditions of Salter Brothers Capital's binding financing offer, and how do they compare to The Star's current debt covenants?"},{"label":"Bally's Regulatory Impact?","query":"How would Bally's Corporation's proposed controlling stake acquisition impact The Star's existing regulatory licenses and governance frameworks across its Australian operations?"}],"footnotes":""},"categories":[16336,157,158],"tags":[23871],"class_list":["post-777024511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777024511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777024511"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777024511\/revisions"}],"predecessor-version":[{"id":777024540,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777024511\/revisions\/777024540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26456"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777024511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777024511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777024511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}