Australia’s Star Entertainment Group has announced a commitment letter by its lenders for a new debt facility of up to AU$200 million (US$136 million), payable in two separate tranches and with each subject to certain conditions being met.
The facility is aimed at buying Star and its recently appointed CEO Steve McCann time to restructure the business amid concerns the company is sitting on the edge of collapse following a second finding of unsuitability in NSW and a cost blowout at Queen’s Wharf Brisbane, opened last month.
Star, which has also postponed release of its FY24 financial results, said late Wednesday that the new debt facility would…
