<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Star Entertainment has received a last-minute $250 million cash injection from US casino giant Bally's Corporation.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The embattled operator, which runs three casinos in Brisbane, Gold Coast and Sydney, is on the brink of collapse with trading on its shares suspended since the end of February.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The offer would give Star $250 million in capital in exchange for Bally's gaining a 50.1 per cent controlling stake in the company.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>LIVE UPDATES:</span></strong><span> </span><a href="https://www.9news.com.au/national/ex-cyclone-alfred-2025-flood-emergency-south-east-queensland-northern-nsw-updates-warnings/1ce5b96f-ed35-45a0-8fba-ceb17560ae72" rel="" target="" title="Ex-Tropical Cyclone Alfred flood emergency"><strong><span>Ex-Tropical Cyclone Alfred flood emergency</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>On Friday, Star was in negotiations with two of its Hong Kong-based investors to offload its 50 per cent stake in the Brisbane Queen's Wharf casino development in exchange for a $50 million cash injection that would help it stave off administration.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>This offer from Bally's was presented as an "alternative path" in a letter posted to the ASX by Star today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"In short, we firmly believe that our approach - as outlined in this letter - of new long-term capital plus operational track record will unlock the best alternative for Star and its shareholders," Bally's Chairman Soo Kim wrote in the letter.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/finance/star-entertainment-us-casino-giant-extends-last-minute-250m-funding-offer/3c944fe1-71da-425d-bb0a-0b5bc0546077" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The letter went on to say Bally's strategy would be to keep "Star's current businesses, platforms and assets in place" and that the company was also open to "discussing a larger transaction".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Star said its board is considering the offer, but that it is not guaranteed to be accepted.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Star employs around about 9000 staff across its venues, including three casinos in Sydney, Brisbane and the Gold Coast.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Bally's operates 19 casinos across the United States.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>:</span></em></strong><span> </span><em><strong><span>Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the</span></strong></em><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple App Store</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU" target="_blank"><strong><em><span>Google Play</span></em></strong></a><strong><em><span>.</span></em></strong></div></div>