Bally’s is said to be looking into acquiring Star Entertainment, with company representatives recently visiting Australia to meet with Star executives and explore its key gaming properties, including The Star Sydney, The Star Brisbane, and The Star Gold Coast.
Bally’s Joins Other US-Based Firms Interested in Star Entertainment
Bally’s is not the only American company eyeing Star Entertainment. Other private equity firms, including Blackstone and Cerberus Capital Management, have also been linked to potential takeover talks, as Star’s financial situation worsens and speculation about a possible buyout grows.
Star Entertainment’s Financial Struggles and Debt Issues Fuel Takeover Speculation
With Star Entertainment facing AU$650 million in debt and significant financial struggles, takeover rumors have intensified. Creditors are increasingly doubtful about the company’s ability to recover, opening the door for potential buyers to acquire Star at a reduced price.
Bally’s May Use Financing Options to Pursue Star Acquisition
Bally’s, backed by its hedge fund partner Standard General, could leverage various financing strategies to fund the acquisition of Star Entertainment. Potential options include selling real estate assets or restructuring its online sports betting division to raise capital for a deal.
