Star Entertainment’s board has agreed to hand control of the casino group to US-based Bally’s Corporation in a $300 million deal that will stave off financial collapse once completed.
Three sources with knowledge of the matter, not authorised to speak publicly, said the proposal had received the support of Star’s board, led by chairwoman Anne Ward, and its lenders over the past weekend.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
