Star Entertainment Secures $650 Million Refinancing Offer Amid Liquidity Concerns

The Star Entertainment Group has received a $650 million debt refinancing proposal from U.S.-based Oaktree Capital Management. This proposal, which is contingent upon various conditions such as government approvals and due diligence, aims to provide crucial support to the struggling casino operator amidst ongoing liquidity challenges. Star has expressed concerns regarding its ability to continue as a going concern and is actively exploring additional funding solutions. The casino has faced significant operational difficulties, including regulatory investigations that have resulted in the suspension of casino licenses and executive departures. While the board is considering Oaktree's offer, there is no certainty that the refinancing will proceed successfully. The situation remains critical for Star as it navigates its financial hurdles.