Bally’s Corporation, the American gaming giant that is now the largest shareholder in Star Entertainment, has warned investors it may not be able to meet debts unless it sells assets or finds new financing, raising questions about its ability to overhaul the embattled Australian group.
The warning was included in accounts filed by Bally’s with the Securities and Exchange Commission in the United States and is known as a going concerns notice. Those accounts, for the three months to the end of June, warned that the company would be unable to stay on top of its debt as it continues development of casino projects in New York and Illinois.
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