US Casino Giant Makes Late $250 Million Play to Save Star, Open to Even Bigger Deal

An image of The Star's Queen Wharf casino and leisure complex, and the 1 William Street building that houses government workers, from the Neville Bonner Bridge connecting the CBD to South Bank in Brisbane, Australia on Sept. 14, 2024. Daniel Y. Teng/The Epoch Times

Embattled casino operator Star is considering a deal that would put a U.S. casino player at the helm, in an eleventh-hour offer that could turn the group’s fortunes around.

Bally’s Corporation, which owns and operates 19 casinos in 11 U.S. states, has proposed a last-minute $250 million recapitalisation plan in exchange for a controlling, 50.1 percent minimum stake in the casino operator.