{"id":8932,"date":"2025-04-08T03:54:33","date_gmt":"2025-04-08T03:54:33","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/04\/08\/star-shareholders-to-vote-on-ballys-180m-rescue-package\/"},"modified":"2025-04-08T03:54:33","modified_gmt":"2025-04-08T03:54:33","slug":"star-shareholders-to-vote-on-ballys-180m-rescue-package","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/04\/08\/star-shareholders-to-vote-on-ballys-180m-rescue-package\/","title":{"rendered":"Star Shareholders to Vote on Bally\u2019s $180M Rescue Package"},"content":{"rendered":"
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Star Entertainment has accepted a fresh AU$300 million (US$ 18 million) rescue offer from Bally\u2019s Corporation, after talks for a larger refinancing plan collapsed. With no other bidders remaining, Star had few options left.<\/p>\n

Bally\u2019s had already shown interest in Star earlier this year. The US-based casino group officially made its offer on March 10<\/a>. Star confirmed the deal in a filing with the ASX on Monday.<\/p>\n

The first part of the deal involves an AU$100 million injection from Bally\u2019s, which will be delivered by Wednesday. Star will not need shareholder approval for this payment. In return, Bally\u2019s gets about 15 percent of Star\u2019s shares and AU$66.6 million in subordinated non-convertible debt.<\/p>\n

The second part of the offer, worth AU$200 million, depends on shareholder and regulatory approvals. It may be split into two payments of AU$100 million each. These must be completed by October 7 if final approvals are delayed.<\/p>\n

Altogether, Bally\u2019s could end up owning as much as 56.7 percent of Star\u2019s shares. That\u2019s higher than the 50.1 percent mentioned in its original bid. The notes tied to the deal come with a 9 percent interest rate and mature in July 2029. Bally\u2019s is buying shares at 8 cents each, even though Star\u2019s last price before trading halted was 11 cents.<\/p>\n

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