A series of rapid developments over the weekend has seen what management of struggling Australian casino firm Star Entertainment Group Ltd called in a Monday filing an “unsolicited” cash bid from United States-based casino firm Bally’s Corp.
The news came soon after Star Entertainment confirmed on Friday, a deal flagged earlier that day for it to dispose to Hong Kong-based real estate partners, Star Entertainment’s 50-percent equity interest in a complex (pictured) where The Star Brisbane casino resort is based.
A separate Friday filing from Star Entertainment announced a commitment for a senior secured AUD250-million (US$157.8-million) bridge loan facility with funds managed by King Street Capital Management, and a…
