{"id":8709,"date":"2025-02-24T07:17:17","date_gmt":"2025-02-24T07:17:17","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/02\/24\/ballys-considers-investment-in-star-entertainment-during-financial-crisis\/"},"modified":"2025-02-24T07:17:17","modified_gmt":"2025-02-24T07:17:17","slug":"ballys-considers-investment-in-star-entertainment-during-financial-crisis","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/02\/24\/ballys-considers-investment-in-star-entertainment-during-financial-crisis\/","title":{"rendered":"Bally\u2019s Considers Investment in Star Entertainment During Financial Crisis"},"content":{"rendered":"<div>\n<p data-start=\"242\" data-end=\"625\">Bally\u2019s Corporation, a casino operator based in the United States and owned by Standard General, is considering investing in Star Entertainment, a struggling gaming business in Australia. Bally\u2019s management, including Chairman Soo Kim, recently traveled to Australia to hold talks with Star\u2019s executives, bankers, and significant shareholders, according to The Australian Financial Review.<\/p>\n<p data-start=\"674\" data-end=\"1035\">The meetings involved site visits to Star\u2019s properties in Brisbane, Gold Coast, and Sydney. Bally\u2019s interest follows Standard General\u2019s recent AU$7.2 billion ($4.6 billion) acquisition of Bally\u2019s, strengthening its financial backing. A source familiar with the discussions noted, <em>\u201cThey are used to turnaround situations and could bring operational expertise.\u201d<\/em><\/p>\n<p data-start=\"1037\" data-end=\"1339\">Star Entertainment is facing significant financial hurdles, revealing on January 8 that it has only months of liquidity left. CEO Steve McCann confirmed that the company is operating under \u201csafe harbor\u201d protections, shielding its directors from insolvency liabilities while seeking capital solutions.<\/p>\n<h2 data-start=\"1341\" data-end=\"1379\">Star\u2019s Urgent Search for Capital<\/h2>\n<p>Star is looking at a number of funding possibilities, such as asset sales, fresh debt, or equity injections, to stay afloat. According to reports, Star\u2019s lenders have been contacted by American investment firm Oaktree Capital to discuss potential agreements.<\/p>\n<p>The business has asked for a $100 million bridge loan but has not yet been able to reach a recapitalization arrangement with secured lenders. To alleviate financial hardship, Star has also asked the government for tax deferrals.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Star\u2019s financial situation has gotten worse due to a mix of regulatory obstacles, dwindling consumer spending, and unforeseen expenses associated with its new resort in Brisbane. AUSTRAC, Australia\u2019s financial crime authority, may also impose financial penalties on the business for noncompliance.<\/p>\n<p data-start=\"2129\" data-end=\"2355\">While Bally\u2019s has no previous operations in Australia, its portfolio includes 19 casinos across 11 U.S. states, a New York golf course, and a Colorado horse racetrack. The company also holds multiple sports betting licenses.<\/p>\n<p data-start=\"2357\" data-end=\"2520\" data-is-last-node=\"\" data-is-only-node=\"\">With Star preparing to release its half-year financial results next week, lenders are closely monitoring its financial position ahead of an upcoming covenant test.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/ballys-considers-investment-in-star-entertainment-during-financial-crisis\/\">Bally\u2019s Considers Investment in Star Entertainment During Financial Crisis<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bally\u2019s Corporation, a casino operator based in the United States and owned by Standard General, is considering investing in Star Entertainment, a struggling gaming business in Australia. Bally\u2019s management, including Chairman Soo Kim, recently traveled to Australia to hold talks with Star\u2019s executives, bankers, and significant shareholders, according to The Australian Financial Review. The meetings [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8709","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8709"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8709\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}