After facing near-collapse, Star Entertainment Group has been saved thanks to a new loan agreement and delayed tax payments. However, the company's future remains uncertain as it faces ongoing scrutiny from regulators and public backlash.
Star Entertainment 's future, which has been hanging by a thread for close on a month, has been saved.
And, while the banking syndicate has agreed to tip in an extra $200 million in new loans to keep it afloat, complications in the rescue continued to the very end. The premier said he was astounded the company would request assistance while paying executive bonuses amounting to tens of millions of dollars and that the government would not be returning to the negotiating table.
That deadline is Friday. As part of the process for assessing Star Entertainment's response, the commission will need to be satisfied that the company is financially robust.
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