Distressed debt juggernaut Oaktree Capital’s dealmakers are dusting off their notes on long-time target Star Entertainment, joining other opportunistic investors licking their lips on the sidelines as chief executive Steve McCann scrambles to keep the lights on at its casinos.
Street Talk can reveal Oaktree’s local suits have refreshed their modelling on Star’s prospects in recent months after the casino giant revealed it was struggling despite being propped up by billions in emergency funding over the past two years.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
