Star Entertainment Group—backed by Australian billionaire Bruce Mathieson—has received $414 million debt refinancing offer from U.S. alternative asset manager Oaktree Capital Management, providing the cash-strapped casino operator a potential lifeline.
Star Entertainment Group—backed by Australian gambling billionaire Bruce Mathieson—is in talks to sell its resort complex in Brisbane to its Hong Kong partners as the cash-strapped casino operator seeks to raise fresh capital to shore up its finances.
Star Entertainment Group—backed by Australian gambling billionaire Bruce Mathieson—is facing the risk of running out of cash as the embattled casino operator struggled to raise fresh capital amid slumping gaming revenues.
Casino operator Star Entertainment will cancel all executive bonusses, freeze salaries and axe 500 jobs after “experiencing a significant and rapid deterioration in operating conditions” particularly at its Sydney and Gold Coast casinos.