{"id":708,"date":"2025-06-25T13:54:54","date_gmt":"2025-06-25T13:54:54","guid":{"rendered":"http:\/\/www.masteringphsyics.com\/?p=708"},"modified":"2025-07-02T13:08:18","modified_gmt":"2025-07-02T13:08:18","slug":"ballys-saves-falling-star-again-with-au300m-rescue-package","status":"publish","type":"post","link":"http:\/\/www.masteringphsyics.com\/index.php\/2025\/06\/25\/ballys-saves-falling-star-again-with-au300m-rescue-package\/","title":{"rendered":"Bally\u2019s Saves Falling Star Again With AU$300m Rescue Package"},"content":{"rendered":"

The post Bally\u2019s Saves Falling Star Again With AU$300m Rescue Package<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n

<\/div>\n

Bally\u2019s to the rescue, again<\/h2>\n

US gambling giant Bally\u2019s has once again bailed out troubled Australian casino firm The Star Entertainment Group Ltd with a significant rescue package.\u00a0<\/p>\n

\n

cash injection that allows the firm to continue operating<\/p>\n<\/blockquote>\n

On Wednesday, shareholders for Star\u2019s casino operations in Brisbane, Sydney, and Queensland approved an AU$300m ($195m) cash injection that allows the firm to continue operating.\u00a0<\/p>\n

Star\u2019s largest shareholder, Aussie conglomerate Investment Holdings, agreed to pony up AU$100m ($64m) to the aggregate amount, leaving Bally\u2019s to pick up the lion\u2019s share ($131m) of the capital needed to keep Star afloat.\u00a0\u00a0<\/p>\n

Clock ticking<\/h2>\n

Star\u2019s financial troubles were exacerbated in June by financial watchdog AUSTRAC, which wanted the company to pay a penalty of AU$400m ($259m) for multiple regulatory failures.\u00a0<\/p>\n

Star, however, pleaded poverty, stating it just doesn\u2019t have that much money<\/a>. Previously in April, Bally\u2019s announced an AU$250m ($150.3m) acquisition of Star, saving the Aussie firm from financial collapse. The move was a lifeline for Star, saving around 9,000 jobs<\/a>.<\/p>\n

On Wednesday, Star chairperson Anne Ward stated that the latest rescue packages from Bally\u2019s and other entities helped her firm \u201cavoid outcomes such as voluntary administration.\u201d<\/p>\n

The Bally\u2019s bailout consists of, according to GGR Asia<\/em>: \u201cmulti-tranche convertible notes and subordinated debt instruments.\u201d<\/a> When this transaction is enacted, Bally\u2019s share of Star will reportedly exceed 50%.\u00a0<\/p>\n

Biting at the bit<\/h2>\n

Despite shelling out extra millions, Bally\u2019s Chairman Soo Kim is looking to the future.\u00a0<\/p>\n

\u201cWe look forward to the completion of our probity review so that we can get on with the critical mission to put The Star on a sustainable path,\u201d Kim stated.\u00a0<\/p>\n

The post Bally\u2019s Saves Falling Star Again With AU$300m Rescue Package<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The post Bally\u2019s Saves Falling Star Again With AU$300m Rescue Package appeared first on Vegas Slots Online News. Bally\u2019s to the rescue, again US gambling giant Bally\u2019s has once again bailed out troubled Australian casino firm The Star Entertainment Group Ltd with a significant rescue package.\u00a0 cash injection that allows the firm to continue operating […]<\/p>\n","protected":false},"author":1,"featured_media":324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino"],"_links":{"self":[{"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/posts\/708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/comments?post=708"}],"version-history":[{"count":1,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/posts\/708\/revisions"}],"predecessor-version":[{"id":709,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/posts\/708\/revisions\/709"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/media\/324"}],"wp:attachment":[{"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/media?parent=708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/categories?post=708"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.masteringphsyics.com\/index.php\/wp-json\/wp\/v2\/tags?post=708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}