{"id":6883,"date":"2024-09-17T14:10:26","date_gmt":"2024-09-17T13:10:26","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=6883"},"modified":"2024-09-17T14:10:30","modified_gmt":"2024-09-17T13:10:30","slug":"lenders-of-the-star-entertainment-group-have-extended-an-additional-au150-million","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/09\/17\/lenders-of-the-star-entertainment-group-have-extended-an-additional-au150-million\/","title":{"rendered":"Lenders of The Star Entertainment Group Have Extended an Additional AU$150 Million"},"content":{"rendered":"\n<p>Lenders of <strong>The Star Entertainment Group<\/strong> have extended an additional <strong>AU$150 million ($100 million)<\/strong> lifeline to help the casino operator navigate a cash crisis driven by cost overruns at its new Brisbane casino and a drop in patronage.<\/p>\n\n\n\n<p>According to Australian media, the company&#8217;s lenders and potential financiers include <strong>Oaktree Capital and Cerberus Capital Management<\/strong>. Discussions between The Star\u2019s board and these lenders are still ongoing.<\/p>\n\n\n\n<p>The proposed AU$150 million infusion would expand the existing <strong>AU$350 million<\/strong> senior debt facility, contingent on securing further assets.<\/p>\n\n\n\n<p>Among the lenders, <strong>Macquarie and Deutsche Bank<\/strong> have sought increased security over The Star\u2019s properties. However, any deal will require regulatory approval.<\/p>\n\n\n\n<p>Star Entertainment is also collaborating with the <strong>Queensland and New South Wales governments<\/strong>, as well as the financial crimes regulator, to stabilize its finances.<\/p>\n\n\n\n<p>The company aims to finalize an agreement as soon as possible.<\/p>\n\n\n\n<p>Star Entertainment, which operates in Sydney, Brisbane, and the Gold Coast, announced a trading halt shortly after opening Star Brisbane.<\/p>\n\n\n\n<p>The group has also been seeking tax relief while grappling with financial difficulties and regulatory scrutiny.<\/p>\n\n\n\n<p>Recently, the company confirmed a deal to sell its Treasury Building in Brisbane to <strong>Griffith University<\/strong>, though the proceeds may fall short of the AU$300 million in short-term funding needed by the group.<\/p>\n\n\n\n<p>Don&#8217;t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lenders of The Star Entertainment Group have extended an additional AU$150 million ($100 million) lifeline to help the casino operator navigate a cash crisis driven by cost overruns at its new Brisbane casino and a drop in patronage. According to Australian media, the company&#8217;s lenders and potential financiers include Oaktree Capital and Cerberus Capital Management. [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":6884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[8,1],"tags":[9828,9150,9829,9827,9830],"class_list":["post-6883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino","category-news","tag-cerberus-capital-management","tag-deutsche-bank","tag-macquarie","tag-oaktree-capital","tag-star-entertainment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lenders of The Star Entertainment Group Have Extended an Additional AU$150 Million - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/09\/17\/lenders-of-the-star-entertainment-group-have-extended-an-additional-au150-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lenders of The Star Entertainment Group Have Extended an Additional AU$150 Million - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Lenders of The Star Entertainment Group have extended an additional AU$150 million ($100 million) lifeline to help the casino operator navigate a cash crisis driven by cost overruns at its new Brisbane casino and a drop in patronage. According to Australian media, the company&#8217;s lenders and potential financiers include Oaktree Capital and Cerberus Capital Management. 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