Shareholders to Decide The Star Entertainment's Future in Bally's Takeover Vote
The Star Entertainment Group's future hangs in the balance as shareholders prepare to vote on a takeover deal with Bally's Corporation at the General Meeting on June 25, 2025. The company's leadership urges shareholders to approve the deal, which promises significant investment and a turnaround plan from Bally's.
Bally's has expressed confidence in its ability to revive The Star Entertainment's fortunes, should the takeover be approved. The deal, if greenlit, will see Bally's issue 278,517,860 convertible notes to The Star Entertainment, with Investment Holdings issuing 139,258,930 convertible notes. This follows a previous failed attempt by The Star Entertainment to secure a deal with Salter Brothers Capital in early April.
Bally's has requested that The Star Entertainment's board review the company's operations if the takeover goes ahead. The board, advised by independent strategic and financial consultants, will carry out this review if shareholders approve the deal. Bally's and Investment Holdings have pledged to invest AUD 200 million and AUD 100 million respectively into The Star Entertainment if the takeover is successful.
Shareholders will decide The Star Entertainment's fate at the General Meeting. If the Bally's takeover is approved, it will bring substantial investment and a strategic review of the company's operations, aiming to turn around its fortunes.
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