The Star Entertainment Group announced Thursday that it has reached agreement on a $390 million refinancing deal with WhiteHawk Capital.
The company will have access to an additional liquidity provision, valued at $50 million, through the refinancing of its existing debts, plus the opportunity to refinance its new debts.
The facility has a term of three years and includes a phased minimum liquidity requirement of AU $50 million during the first 12 months, increasing to AU $75 million thereafter, and in 18 months increasing to AU $100 million.
In addition, the refinancing contains a schedule of the expected time frames for financial reporting requirements, including:
- December 2026 – Asset coverage requirements,
- March 2027 – EBITDA covenants,
- March 2028 – Beginning of quarterly amortization.
The Star expects to complete its refinancing by May 15, 2026, in order to satisfy conditions associated with the earlier granted waivers by its senior lenders.
The refinancing is part of a broader corporate reorganization. In August 2025, Bally’s Corporation and its affiliates made a AU $300 million investment into Star’s business, which changed its ownership structure.
In addition, Star has made several management changes and implemented cost-saving measures, including closure of its offices and downsizing its workforce. Additionally, the company is currently working to exit its interest in the Queen’s Wharf Brisbane joint venture, conditional upon the release of the AU $700 million debt guarantee from its creditors.
