The Star Entertainment Group has satisfied the conditions to draw the first of its two AU$100m tranches of its debt facility, the company announced.
This tranche is expected to be received by Monday, December 9.
“Under the terms of the facility, the proceeds of the Treasury Casino sale must be placed into escrow, resulting in a net increase in cash for the company of approximately $37.1m after fees,” the company announcement added.
“The parties are working together towards satisfaction of the conditions precedent for the company to draw down the second tranche, with an availability period up to April 9, 2025.”
