Star Entertainment is once again on the brink of collapse, after a rescue deal fell through.
The casino group was working to secure a refinancing arrangement with Salter Brothers Capital, which has now been withdrawn.
The failure to secure the $750 million deal has forced the company to try and shore up an alternative arrangement with US casino group Bally’s.
Star, the country’s second-largest casino operator, said in a statement to the ASX that several conditions required for the Salter proposal to proceed were unlikely to be met in time to address the company’s immediate cash crisis.
It said it has “continued to work diligently with Slater Brothers Capital … but has not received a binding debt commitment letter”.
Star confirmed…
