{"id":2655,"date":"2025-04-07T08:26:47","date_gmt":"2025-04-07T08:26:47","guid":{"rendered":"http:\/\/opiniao-publica24-7.com\/?p=2655"},"modified":"2025-04-09T15:47:12","modified_gmt":"2025-04-09T15:47:12","slug":"ballys-saves-star-after-aussie-casino-giant-agrees-180m-takeover-offer","status":"publish","type":"post","link":"http:\/\/opiniao-publica24-7.com\/index.php\/2025\/04\/07\/ballys-saves-star-after-aussie-casino-giant-agrees-180m-takeover-offer\/","title":{"rendered":"Bally\u2019s Saves Star After Aussie Casino Giant Agrees $180m Takeover Offer"},"content":{"rendered":"

The post Bally\u2019s Saves Star After Aussie Casino Giant Agrees $180m Takeover Offer<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n

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Bally\u2019s heading Down Under<\/h2>\n

Bally\u2019s Corporation is adding three of Australia\u2019s leading casinos to its portfolio after the Star Entertainment board reportedly accepted its AU$300m ($180.4m) takeover offer.\u00a0<\/p>\n

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handed Bally\u2019s the keys to Star\u2019s casinos<\/p>\n<\/blockquote>\n

According to the Sydney Morning Herald <\/em>on Monday, the move by the US gambling powerhouse handed Bally\u2019s the keys to Star\u2019s casinos in Brisbane, Sydney, and Queensland, while saving the Aussie firm from financial collapse.\u00a0<\/p>\n

Media reports state lawyers are finalizing paperwork for the Bally\u2019s takeover and that the deal could get inked Monday.<\/p>\n

Bally\u2019s will reportedly inject AU$250m ($150.3m) into Star with controlling shareholder Bruce Mathieson adding AU$50m ($30m).<\/p>\n

Cashing in\u00a0<\/h2>\n

Star reportedly expects to receive the cash up-front from Bally\u2019s<\/a> and Mathieson by week\u2019s end to meet its near-term financial obligations.<\/p>\n

While the acquisition will give Bally\u2019s control of The Star, Sydney; The Star Gold Coast; and The Star Brisbane; it also handed the Aussie casino giant a lifeline.\u00a0\u00a0<\/p>\n

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only had enough cash to last it one week<\/p>\n<\/blockquote>\n

On Wednesday, Star allegedly only had enough cash to last it one week after an AU$940m ($563.9m) offer from property development fund Salter Brothers Capital fell through over lack of a binding debt commitment letter.<\/p>\n

Star was facing imminent collapse with around 9,000 jobs across its Australia properties at risk. Its eventual saviour Bally\u2019s threw its hat into the ring in March<\/a>, a bullish, last-minute move by the Soo Kim-owned brand.\u00a0<\/p>\n

At the time, Bally\u2019s challenged a move by Star\u2019s Hong Kong partners to acquire a 50% stake in its Brisbane integrated casino-resort, calling its offer \u201can alternative path.\u201d<\/p>\n

What next?<\/h2>\n

Bally\u2019s now needs approvals for its acquisition of controlling interest in Star from the Foreign Investment Review Board and casino regulators in NSW and Queensland.<\/p>\n

Approval seems guaranteed given Bally\u2019s US pedigree in the gambling industry and that it already runs 19 casinos acquired via \u201cdistressed sales.\u201d\u00a0\u00a0<\/p>\n

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charm offensive while inspecting Star\u2019s casinos<\/p>\n<\/blockquote>\n

Chairman Kim also went on a charm offensive while inspecting Star\u2019s casinos earlier this year on what he termed a \u201cmystery shopping\u201d experience.<\/p>\n

Kim stated that Bally\u2019s was \u201calmost struggling to understand\u201d why Star\u2019s Sydney casino was \u201cperforming so poorly.\u201d<\/p>\n

The post Bally\u2019s Saves Star After Aussie Casino Giant Agrees $180m Takeover Offer<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The post Bally\u2019s Saves Star After Aussie Casino Giant Agrees $180m Takeover Offer appeared first on Vegas Slots Online News. Bally\u2019s heading Down Under Bally\u2019s Corporation is adding three of Australia\u2019s leading casinos to its…<\/p>\n

Continue Reading “Bally\u2019s Saves Star After Aussie Casino Giant Agrees $180m Takeover Offer”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":2622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/posts\/2655"}],"collection":[{"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/comments?post=2655"}],"version-history":[{"count":1,"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/posts\/2655\/revisions"}],"predecessor-version":[{"id":2656,"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/posts\/2655\/revisions\/2656"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/media\/2622"}],"wp:attachment":[{"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/media?parent=2655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/categories?post=2655"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/opiniao-publica24-7.com\/index.php\/wp-json\/wp\/v2\/tags?post=2655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}