SGR ASX: Star negotiates with Salter Brothers for long-term $750m refinancing

The remaining funds will be paid either following a shareholder vote, or will be split into two payments before October 7. Bally’s, which operate’s 19 casinos across the US, will get a 56.7 per cent stake in Star. As Star’s search for a white knight steps up, a potential newcomer to the Australian gaming industry has taken a look at its casinos. Airtasker will look to expand rapidly overseas after a new capital raise and an expanded strategic partnership. DBC’s total current drawn balance on the debt facility is approximately $1.4 billion.
The gold sector, however, isn’t enjoying the same fortunes with most miners in the red in line with a softer gold price today. The gains were largely across the board with 128 companies making gains, 65 losing ground and 7 going nowhere from Friday’s close. Its cash crisis continues, with $78 million in available cash at the end of December. Just a quick update on the waxing and waning fortunes of Donald and Melania Trump and their recently launched meme coins we’ve been following today. Ms Walsh joined Nine in 2008 and had a high-profile career as a reporter on the Today program and covering federal politics. Oxfam Australia is calling on the federal government to introduce a wealth tax of between 2 and 5 per cent on the super-rich.
In a late-night update to the ASX on Monday, Star Entertainment revealed Bally’s would pay $100 million by Wednesday to keep the business’s doors open across Brisbane, the Gold Coast and Sydney. Let’s see what top brokers think of Domino’s Pizza shares following the AGM update last week. Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Star Entertainment said it would remain engaged with its JV partners and would update investors if anything changed. Star Entertainment will remain responsible for its share of future equity contributions to DBC, estimated at $200 million. This is a significant development given that the cash-strapped Live music casino Lake County sought to sell the assets to boost its balance sheet.
Earlier this month Star confirmed its partners in the Queen’s Wharf facility — Chow Tai Fook Enterprises (CTF) and Far East Consortium (FEC) — have offered to buy out its share. United Workers Union casinos director Andrew Jones said there was growing frustration amongst staff towards Star’s “business as usual” approach. The company employs 9,000 people across Queensland and New South Wales, with 3,000 in Brisbane, about 2,000 on the Gold Coast and BetonRed jackpot games 3,500 in Sydney, as well as about 400 corporate staff. Star was reported to be considering a $650 million debt refinancing offer from Oaktree Capital Management last week.
Oxfam’s latest inequality report has found the world’s top 10 richest people (all men) made a whopping $150 million a day last year. It found that half of those using account-based pensions draw their super down at the legislated minimum rate. The ABC’s resident economics guru Alan Kohler has hammered out this piece, the first of what will be a weekly column on Mondays this year, on the entrenched US exceptionalism and its extraordinary productivity gains in recent times.
The company’s chief executive, Steve McCann, needs to secure long-term financing from an unnamed party for the accounts to be signed off and for trade to resume. A deadline for the blow-up of a deal with the best online casino RNG operator’s Hong Kong investors is approaching. Yesterday, there were media reports that Star was “on the brink” of inking a deal with its joint venture partners Chow Tai Fook and Far East Consortium, to buy its 50 per cent interest in the development. The falls this week have been driven by several factors, including US trade policy uncertainty at a time when fears of a looming US recession are rising. Locally, the falls have been exacerbated by more weakness in the big banks and worsened after BHP, RIO, South32, and energy giant Woodside all traded ex-dividend. “The horrific price action in the ASX200 has continued today, slipping below 8,000 for the first time in almost six months. Canstar analysis of RBA credit card statistics and in-house survey data shows that of those with credit card debt, the average amount owing is estimated to be $4,420.
Findings and recommendations from the report have flowed on to have negative consequences to the Star Casino share price. Star has been grappling with a number of tension points since the release of the NSW Independent WS Casino slot tournaments Commission (NICC)’s Bell Two Inquiry into the online casino Australia no wagering requirement bonus operator. “While discussions continue with respect to a range of different solutions, there is no certainty that any of these negotiations will result in one or more definitive arrangements that might materially increase the group’s liquidity position.
Insignia said on Friday the two firms now vying for control of one of Australia’s largest wealth management firms had increased their per-share offers to $5 each — an 8.7% premium over their previous $4.60 bids. That wording suggests that more rate cuts may be coming as the bank has long declared that restriction is no longer necessary while inflation, at 2.4% last month, is safely heading back to its 2% target this year. As for a potential catalyst for a turnaround in the ASX200, there isn’t a clear one currently. US trade and tariff policy appears likely to remain volatile, and BlackCoin user reviews the upcoming Federal Election adds to the uncertainty, with the possibility of a hung parliament. If the break below the psychologically important 8000 level is confirmed at the close of business today, it would open the way for the sell-off to extend towards 7600.