This Month
Star as we know it will be over, top execs cleaned out: Bally’s
Star Entertainment’s new controlling shareholder says there is still money to be made in gambling but the company had been badly managed for years.
Star Entertainment to sign $300m deal with US casino giant Bally’s
The terms are expected to be finalised following a weekend of negotiations.
Desperate Star Entertainment asks Bally’s to fatten up a bail-out
Term sheets are flying as Star and its bankers try to secure a final lifeline for the casino operator.
Star turns to US casino giant Bally’s as $750 million lifeline fails
Star was trying to reach a deal with its potential funder until late on Tuesday, but had failed to agree to terms including how to meet its near-term costs.
The stand-off that blew up Star’s super-sized debt deal
Nearly a month of exclusive negotiations to save the casino giant have failed – and now it is over to Plan B. The clock is ticking louder than ever.
March
Inside the awkward release of the Star casino probity report
The Queensland LNP government released a sensitive report into Star’s Brisbane casino business partner. The findings could have a significant impact on a sale.
Star’s Hong Kong saviour hid relationship with criminal junket king
A long-secret report finally released by the Queensland government recommended the state consider “divestment or appropriate quarantine” of assets.
Star’s Steve McCann goes all in on Salter Brothers
There is no more time for Plan B or Plan C. Salter Brothers has to work.
Star Entertainment extends Salter Brothers $750m deal deadline
Star Entertainment needs to lock in a multimillion-dollar funding package before the start of April or faces the prospect of voluntary administration.
Billionaire Mathieson backs Bally’s bid for Star with $50m sweetener
The company’s largest shareholder has thrown his support behind the American casino giant’s rescue bid despite Star’s lengthy discussions with another party.
Inside Steve McCann’s final attempt to catch a falling Star
Star chief executive Steve McCann’s rescue plan for the casino group could be remembered as one of the trickier pieces of dealmaking in Australia this decade.
Queensland prepares to publish damning report on Star’s HK partner
The state government says it has not received any formal notice from Star about plans to offload the Queen’s Wharf casino to its two main Hong Kong investors.
Star negotiates with Salter Brothers for long-term $750m refinancing
The funds management giant has already engaged regulators and state governments about probity and is offering to refinance the casino’s long-term debt.
How Star’s ‘buyer of last resort’ entered its orbit at a meeting in New York
Star Entertainment looked everywhere for funds in recent months, just not the place it would end up attracting a bid. Why not?
Star Entertainment shares to remain suspended despite deal
The company’s chief executive, Steve McCann, needs to secure long-term financing from an unnamed party for the accounts to be signed off and for trade to resume.
Steve McCann is changing Star Entertainment’s business plan mid-flight
The company’s decision to get out of Brisbane and focus on the Gold Coast and Sydney was driven by necessity, and a shift in its direction.
Star agrees to Queen’s Wharf sale, avoids administration
The company has sold its 50 per cent stake in the Brisbane casino to Chow Tai Fook Enterprises and Far East Consortium, and says it is in talks to secure new debt facilities worth $1 billion.
Problems at notorious Star gaming room ‘of limited importance’: Bekier
The casino’s former chief executive is being sued by the corporate regulator for failing to provide oversight. He says it wasn’t his job to review individuals.
Hong Kong investors to rescue Star, close in on Brisbane casino
The struggling entertainment group has debts totalling $400 million and its shares have not traded since Monday because it has been unable to sign off accounts.
Former Star boss says he was told not to worry about crime gang links
Matt Bekier, being sued by the regulator for a lack of oversight at the casino, says people he relied on for warnings of wrongdoing said there were no issues.