Australia’s Star Entertainment in a tussle with lenders over debt waivers
(Reuters) -Australia’s Star Entertainment said on Wednesday it is in discussions with its lenders to secure potential waivers on loan covenants, though the terms offered by the lenders so far were unacceptable to the casino operator.
This is the latest challenge to Star, which has been under a severe debt crisis and faces regulatory scrutiny.
Star said it will defer its unaudited full-year financial accounts by a day to Friday, August 29. In February, the cash-strapped casino operator delayed issuing its half-year accounts pending bailout offers.
The waivers are for the periods ended September 30 and December 31 this year, Star said in a statement.
The company did not provide further details on the debt waivers. The Australian Financial Review had reported that the waivers were necessary for Star to publish its results by Friday.
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