{"id":753,"date":"2025-04-07T00:34:54","date_gmt":"2025-04-07T00:34:54","guid":{"rendered":"http:\/\/www.chuckwardrealestate.com\/?p=753"},"modified":"2025-09-22T12:10:08","modified_gmt":"2025-09-22T12:10:08","slug":"star-entertainment-pressing-ballys-to-up-158m-takeover-bid","status":"publish","type":"post","link":"http:\/\/www.chuckwardrealestate.com\/index.php\/2025\/04\/07\/star-entertainment-pressing-ballys-to-up-158m-takeover-bid\/","title":{"rendered":"Star Entertainment Pressing Bally\u2019s to Up $158M Takeover Bid"},"content":{"rendered":"<p><em>***UPDATE*** Late Sunday, news broke that Star Entertainment has accepted an offer from Bally\u2019s that will see the US-based regional casino operator take majority control of the Australian gaming firm. Bally\u2019s is paying $149.8 million to acquire Star with investor Bruce Mathieson &#8212; Star\u2019s largest individual shareholder &#8212; providing $30.1 million in financing to move the deal along. Should Star creditors and shareholders approve the deal, it would stave off what had become an increasingly likely collapse of the Australian company.<\/em><\/p>\n<hr \/>\n<ul>\n<li><strong>Star reportedly wants Bally\u2019s to lift acquisition offer.<\/strong><\/li>\n<li><strong>Bally\u2019s still has strong bargaining position as Star faces liquidity crisis.<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>Star Entertainment Group reportedly wants Bally\u2019s (NYSE: BALY.T) to boost its $158 million takeover offer for the embattled Australian casino operator as it faces yet another liquidity crunch.<\/p>\n<figure id=\"attachment_322461\" aria-describedby=\"caption-attachment-322461\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-322461 size-post-thumbnail-858xAUTO lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"Star Sydney, blackmail\" width=\"858\" height=\"573\" data-src=\"http:\/\/www.chuckwardrealestate.com\/wp-content\/uploads\/2025\/04\/star2-858x573-1.jpg\"><figcaption>The Star Sydney. The operator reportedly wants Bally&#8217;s to increase its acquisition offer. (Image: Star Entertainment)<\/figcaption><\/figure>\n<p>It\u2019s rumored that Star is once again running on fumes <a href=\"https:\/\/www.casino.org\/news\/ballys-makes-11th-hour-bid-to-save-star-entertainment\/\">with its cash burn rate<\/a> implying it might have just days to live in its current form. The <em>Australian Financial Review<\/em> reports that Star and Bally\u2019s have been engaged in back-and-forth regarding the latter\u2019s efforts to acquire 50.1% of the former.<\/p>\n<div class=\"callout\">\n<p>That report also indicates Star is mulling the sale of 15% of its shares, <a href=\"https:\/\/www.casino.org\/news\/star-entertainment-halts-trading-stoking-fears-collapse-is-near\/\">trading in which has suspended<\/a> for more than a month, in a transaction that doesn\u2019t need investor approval. Should that sale materialize, it could provide the casino operator with the cash needed to extended its survival timeline while possibly valuing it at $189 million.<\/p>\n<\/div>\n<p>When Bally\u2019s initially floated its takeover offer for Star about a month ago, the Rhode Island-based regional casino operator signaled it was open to negotiations. As of yet, it hasn\u2019t publicly commented on the possibility of raising its offer.<\/p>\n<h2>Bally\u2019s Holds Strong Cards<\/h2>\n<p>At the bargaining table with Star, Bally\u2019s comes from a position of strength. Last week, a financing offer by <a href=\"https:\/\/www.casino.org\/news\/stricken-star-turns-to-ballys-after-rescue-deal-collapses\/\">Salter Brothers Capital<\/a> to potentially keep Star afloat was withdrawn, perhaps putting Star into a beggars can\u2019t be choosers.<\/p>\n<div class=\"callout\">\n<p>Additionally, the offer floated by Bally\u2019s is viewed by some Star investors as preferable to selling the Star Brisbane to Hong Kong-based Chow Tai Fook and Far East Consortium for a mere $31 million. Under the terms of the Bally\u2019s bid, Star would maintain control of its Australian integrated resorts.<\/p>\n<\/div>\n<p>That\u2019s likely among the reasons why Bruce Mathieson, the Australian businessman who\u2019s the largest individual investor in Star Entertainment, recently endorsed the Bally\u2019s offer sheet. His preference for Star accepting the US operator\u2019s proposal <a href=\"https:\/\/www.casino.org\/news\/star-investor-mathieson-supports-ballys-bid\/\">became public prior to<\/a> news of the Salter Brothers financing being yanked hit the wires.<\/p>\n<p><strong>It\u2019s rumored that if Star accepts the Bally\u2019s offer, the buyer would allow Mathieson to increase his equity position in the company at favorable terms while also granting him board seats. There\u2019s also chatter that Mathieson could provide financing to assist Bally\u2019s getting the deal done.<\/strong><\/p>\n<h2>Still Work to Be Done for Bally\u2019s in Pursuit of Star<\/h2>\n<p>It\u2019s sturdy bargaining position aside, Bally\u2019s still has boxes to check in its effort <a href=\"https:\/\/www.casino.org\/news\/ballys-may-be-examining-star-entertainment-buy\/\">to acquire Star<\/a>. Obviously, the target needs to accept an offer &#8212; the original one or increased version &#8212; and that acceptance moving forward is predicated on creditors and shareholders voting in favor of it.<\/p>\n<p>Star may no choice but to play ball with Bally\u2019s. Speculation has surfaced that talks regarding the sale of the Queens Wharf assets have hit a snag and the company has yet to receive cash from a previously announced sale of its Sydney convention and meeting space.<\/p>\n<p><strong>Bottom line: Star\u2019s near-term choices could well prove to be accepting Bally\u2019s proposal or risk outright collapse<\/strong>.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/star-entertainment-pressing-ballys-to-up-158m-takeover-bid\/\">Star Entertainment Pressing Bally\u2019s to Up $158M Takeover Bid<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>***UPDATE*** Late Sunday, news broke that Star Entertainment has accepted an offer from Bally\u2019s that will see the US-based regional casino operator take majority control of the Australian gaming firm. Bally\u2019s is paying $149.8 million to acquire Star with investor Bruce Mathieson &#8212; Star\u2019s largest individual shareholder &#8212; providing $30.1 million in financing to move the deal along. Should Star [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/753"}],"collection":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=753"}],"version-history":[{"count":2,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/753\/revisions"}],"predecessor-version":[{"id":756,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/753\/revisions\/756"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media\/755"}],"wp:attachment":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=753"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}