The Star Entertainment Group’s AU$750m lifeline deal with Salter Brothers Capital has fallen through.
The company announced that it did not receive “a binding debt commitment letter” and that now “the refinancing proposal has been withdrawn.”
It claimed that, while in talks with Salter Brothers and relevant third parties, “it became apparent that it was unlikely that a number of the conditions precedent to the refinancing proposal would be able to be satisfied, either at all or in sufficient time to address the current liquidity needs of the company.”
Without an appropriate refinancing solution on the table, The Star remains unable to publish its half-year financial report for the period ending December 31, 2024.
The company is now exploring liquidity options, including returning to an offer made by Bally’s in March for a 50.1 per cent stake in the group.
Read more: Bally's makes 11th hour offer to The Star
