Star Entertainment Co US casino giant extends Star last-minute $250m funding offer

Star Entertainment, an embattled operator of casinos in Brisbane, Gold Coast, and Sydney, has received a $250 million cash injection from US casino giant Bally’s Corporation in exchange for a 50.1% controlling stake. The offer comes as Star was in negotiations with Hong Kong-based investors to offload its stake in the Brisbane Queen’s Wharf casino. Bally’s strategy includes keeping Star’s current businesses intact, and the board is considering the offer which could help the company stave off collapse.

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