SGR 2.08% 49.0¢ the star entertainment group limited

Refinancing SGRA fine levied by financial crimes watchdog...

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    Refinancing SGR

    A fine levied by financial crimes watchdog AUSTRAC, four class actions and two revoked state casino licences weighed on the embattled casino operator in the last financial year, culminating in a $2.2 billion non-cash impairment of The Star Sydney, The Star Gold Coast and Treasury Brisbane.

    Star recently secured $450 million in new debt facilities from Barclays and Westpac as part of a refinancing process, following a strategic review undertaken by Barrenjoey Capital Partners.

    The company’s chief executive, Robbie Cooke, had previously floated selling the Sydney business after slashing more than $2 billion from the value of its three casinos. In August, Star said that was off the cards.

 
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