Gaming company Star Entertainment Group has secured a $200 million lifeline from lenders to help it through financial challenges.
In a note posted to the Australian Stock Exchange (ASX) last night, the group said it’s been provided two lots of $100 million.
The first tranche is expected to be available, subject to conditions, from the end of October through to December 20.
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The second lot would require Star to meet tougher conditions.
The company’s current $450 million debt facility has been reduced to $334 million.
Earlier this month, Star, which owns casinos in Sydney, Brisbane and the Gold Coast, was suspended from trading on the ASX after a failure to post financial results.
It came in the wake of the NSW Independent Casino Commission’s Bell Report findings which found that the group had not moved quickly enough to confront culture and governance problems disclosed in 2022.
The NICC is also considering the findings of the report, which could have implications for the Star’s Sydney casino.
There are many different ways to get help and information about gambling. Call the National Gambling Helpline on 1800 858 858; use online counselling; find information about help services in your state or territory; get information and support for family and friends; get information about how to talk with someone about their gambling; or contact Gamblers Anonymous.
All services are free, confidential and available 24 hours a day, 7 days a week.
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