The Star Entertainment Group has confirmed it has reached an agreement over debt waivers which will allow it to publish audited results. The Australian casino operator had faced a battle to waive covenants on a AU$430m loan as it looks to shore up its finances. Previous reports from the Australian Financial Review claimed that The…
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Australia’s Star Entertainment Group has obtained a vital debt waiver of AUD 430 million (around $285 million), providing the struggling casino operator with the opportunity to raise additional funds as it grapples with a series of financial challenges. Star Entertainment Obtains Massive Debt Waiver On Tuesday, the company confirmed to investors that it had secured…
The news: The Star Entertainment Group has entered a trading pause following reports overnight that the troubled casino operator had been granted additional time by lenders to pay back its debt in exchange for a fee. The context: Lenders are expected to waive debt covenants, which Star has been in breach of, for the June…
Star Entertainment secures another lifeline as $450m debt looms Sky News Australia Read the original article here