Star secures a lifeline but the future of the casino giant is far from assured | The Business

After four weeks of emergency talks, embattled casino operator Star Entertainment has announced it's secured a lifeline. Lenders will provide it with $200 million at a hefty interest rate of 13.5 per cent, with an immediate $100 million to help the company address the massive cost blowout at its new Queens Wharf resort in Brisbane. Star's negotiations with the Queensland government to get a tax deferral have hit a stalemate with the Queensland Premier, Steven Miles saying he'll only consider it if Star executives forego their large bonuses. The company also revealed a statutory full-year loss of $1.69 billion.
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