The suspension of The Star Entertainment’s casino license for its Gold Coast property has been pushed back until September 30, 2026.
In line with this extension that gives...
The Star’s $300M investment vote set for June 25, 2025
The Star Entertainment Group is calling on shareholders to attend a crucial meeting on June 25, 2025, to vote on a proposed $300 million AUD investment package aimed at helping the company recover and rebuild.
Out of the $300 million investment, $200 million is from US gaming company Bally’s Corporation and $100 million from the Mathieson family’s investment holdings. This funding is really important for The Star to stay afloat in the market.
Shareholders will also vote to approve some convertible notes issued earlier this year, basically a type of loan that can turn into shares. Bally’s got around 278 million notes, and the Mathiesons have about 139 million. The board recommends voting yes on all these proposals, as long as no better offers come up and an independent expert agrees.
The Star has not been shining bright
The Star has had a rough few years. Investigations in New South Wales and Queensland uncovered serious problems with how they handled anti-money laundering and responsible gambling rules. Because of this, the company lost its casino licences in Sydney and Brisbane for a while, had some leaders leave, and now must follow strict government oversight and fix their issues.
For Bally’s, this investment is a chance to expand into the Asia-Pacific region. For the Mathieson family, it means growing their role in the company.
Australian casino group The Star Entertainment is in tense negotiations with banks, trying to secure breathing space on AU$430 million ($278.5m) in loans.On August 27,...
