Star Entertainment secures $390M refinancing to fuel restructuring push
The Star Entertainment Group has secured a $390 million refinancing deal with WhiteHawk Capital as part of its ongoing restructuring efforts. The agreement comes after months of financial adjustments, including office closures, workforce reductions, and broader cost-cutting measures across the company.
The refinancing follows an earlier AU $300 million investment by Bally's Corporation in August 2025, marking a key step in Star's corporate reorganisation. Under the new deal, the company must meet specific financial reporting milestones, such as asset coverage checks in December 2026 and EBITDA covenants by March 2027.
The three-year facility includes a phased liquidity requirement, starting at AU $50 million and rising to AU $100 million over time. An extra $50 million in liquidity has also been made available, allowing Star to refinance both existing and new debts. Completion of the deal is expected by May 15, 2026, ensuring compliance with conditions tied to earlier waivers from senior lenders. Additionally, Star is working to exit its stake in the Queen's Wharf Brisbane joint venture. This move depends on creditors releasing a AU $700 million debt guarantee linked to the project.
The refinancing provides Star with much-needed financial flexibility while imposing strict reporting and liquidity conditions. If completed as planned, the deal will help stabilise the company's position as it continues restructuring operations and managing debt obligations.
