The Star again looking to Bally’s as Salter Brothers Capital refinancing proposal withdrawn

Viviana Chan

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April 2, 2025

The Star again looking to Bally’s as Salter Brothers Capital refinancing proposal withdrawn

The Star Entertainment Group has announced that Salter Brothers Capital (SBC) has withdrawn its proposed AU$940M ($593M) refinancing plan, leaving the embattled casino operator exploring alternative solutions including a proposal from US gaming giant Bally’s Corporation.

The withdrawal comes after extensive negotiations with Salter Brothers Capital and relevant stakeholders, including state governments and regulators.

According to The Star’s stock exchange filing, specific conditions precedent to the refinancing proposal could not be satisfied within the timeframe needed to address the company’s urgent liquidity needs.

‘Lender requirements for specific priority arrangements and enforcement rights in relation to their proposed security over non-gaming assets of The Star could not be met,’ the company stated in its filing.

The collapse of the refinancing proposal marks a significant setback for The Star, which has been working to stabilize its financial position. The company’s shares have been suspended from trading since March 3rd, after the group failed to submit its half-year financial report for the period ended December 31st, 2024.

According to Australian media outlet Financial Review, people briefed on Star’s financial situation said the company had enough cash to run its operations for up to another week.

In its announcement, The Star confirmed it ‘continues to be unable to lodge its half year financial report for the period ended 31 December 2024 in the absence of an appropriate refinancing solution.’

The company is now actively engaging with Bally’s Corporation regarding an alternative proposal received on March 10th. Bally’s has offered to issue convertible notes that would be subordinated to The Star’s existing senior lenders, potentially convertible into a controlling 50.1 percent stake of The Star’s fully diluted ordinary shares.

As reported by AGB, in his letter to The Star, Bally’s Chairman Soo Kim emphasized the strategic nature of their proposal, stating, ‘We firmly believe that our approach—of new long-term capital plus operational track record—will unlock the best alternative for The Star and its shareholders.’

Bally’s has indicated its willingness to underwrite an entire AU$250M ($158M) capital raise while allowing existing shareholders to participate on a pro rata basis. The US casino operator highlighted its extensive experience managing 19 casinos across 11 US states and significant presence in international markets.

‘Our strategy for The Star is built on the simple premise that retaining the company’s current businesses, assets, and platforms will provide a stronger and more successful business over time,’ Kim wrote.

Despite these developments, The Star cautioned that ‘there remains material uncertainty as to the Group’s ability to continue as a going concern.’

The Star’s board is currently reviewing the Bally’s proposal but noted there is no certainty the offer will proceed further.

Daily Asia Gaming eBrief: Critics question validity of Thai casino poll data

News

AGBrief Editorial

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April 2, 2025

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Daily Asia Gaming eBrief: Critics question validity of Thai casino poll data

Good Morning. Data is data. But some critics are questioning the validity of a recent poll regarding Thailand’s possible future entertainment complexes. The consistency of the results leads some to wonder whether the government is using the data to fast track its intentions and pass the bill as quickly as possible. Meanwhile, in Macau, the Secretary for Economy and Finance has raised concerns about the SAR reaching its budgetary goals in 2025, as GGR so far has failed to excite.

What you need to know

Critics challenge the validity of a Thai government-led casino poll, claiming insufficient public scrutiny in the fast-tracked bill.
Macau faces potential fiscal shortfalls in 2025, with its financial Secretary stressing the need for strict budget management.

On the radar

Macau March GGR totals $2.46B, up slightly by 0.8% yearly.
Casino sales at Jeju Dream Tower sharply rise 46.5% YoY in March.
BlueBet has successfully finalized the acquisition of TopSport.
Betting provider Colossalbet fined for “indecent” illegal gambling ads.
Wynn Macau grants employee share awards.

AGB Intelligence

THAILAND

Critics question poll data on casino bill

The critics of Thailand’s new entertainment complex bill will not be silenced. And the most recent focus is a Fiscal Policy Office survey, which has raised questions due to the consistency of its results. This is not the first survey to have been conducted, however opponents of the bill fear that the data could be being used to fast track the bill, with the support of the government. Many questions remain, as the bill continues to be debated.

Industry Updates

Galaxsys boosts its portfolio by releasing two exciting new slot games.
Slotegrator expands in Europe with PHOENIX 7’s Japanese-inspired slots.
Pragmatic Play extends global collaboration with Tomorrowland.

Corporate Spotlight

UU Wallet: Bridging traditional finance and Web3 flexibility

UU Wallet unveils comprehensive Digital Finance Solutions at ASEAN Gaming Summit 2025

With a strong focus on security and efficiency, UU Wallet stands out with its instant cryptocurrency exchange capabilities and globally accepted prepaid card, making it a preferred choice for those navigating the complexities of digital finance.

INTELLIGENCE | ASEAN | CAREERS

Funny Faces: Hoglet-Moglet is a slot game with a unique twist. After every bet, players have a chance to land the special hoglet-dice symbol, which triggers an additional move along a track encircling the playing board. Its playful theme and dynamic animations create an interactive adventure that keeps the action rolling.

Hayk Sargsyan, CEO of Galaxsys, said: “Starting to develop slots after years of focusing on fast and skill games was initially a challenge, but the results have far exceeded our expectations. After the successful launch of El Dorado, which has already gained significant popularity, we are now proud to introduce two unique slot games: Olympian Legends and Funny Faces: Hoglet-Moglet.”

“With cascading symbols in Olympian Legends and dynamic animations in Funny Faces: Hoglet-Moglet, these games are designed to keep players fully engaged and deliver a memorable gaming experience. We have many more upcoming releases and will continue to innovate and provide fresh experiences for our partners and their players.”

With these two unique slot games, Galaxsys continues to expand its slot portfolio and broaden its offerings to a wide network of partners worldwide. The company remains committed to delivering high-quality games that are innovative and entertaining.

PHOENIX 7 is an international online casino game provider with a team composed of iGaming experts from Malta, Ukraine, and Japan. The multinational team has extensive experience in every step of game development, from first concept to final launch, with a specialization in games inspired by Japanese pachinko and pachislots.

With this agreement, PHOENIX 7’s exciting slots are available for integration through Slotegrator’s APIgrator solution, which offers over 30,000 games from over 180 game providers.

PHOENIX 7’s portfolio includes 20 high-quality games localized in 24 languages, making them highly sought after in the global iGaming market. The studio is headquartered in Malta, with development taking place in Ukraine, Poland and Japan: the Ukrainian team is responsible for the technical side, while Japanese specialists implement unique game mechanics inspired by local Asian traditions.

PHOENIX 7 combines the traditions of Japan’s pachinko and pachislots with cutting-edge online slot technology. Developed on HTML5, the company’s games provide a smooth gaming experience on any device and are easy to integrate into online casino sites.

“We are incredibly excited to partner with Slotegrator and bring our innovative slot games to a wider audience. Their team’s professionalism and expertise made the onboarding process seamless, and we look forward to seeing the results of our collaboration,” noted by PHOENIX 7 team.

PHOENIX 7 games meet all international standards, as confirmed by the MGA license and BMM Lab certification. High RTP, jackpots, and sophisticated bonus mechanics contribute to high player retention.

Earning a college sports scholarship, Newsome was named Rookie of the Year in his 2015 debut season. His career steadily advanced, leading to two gold medals at the Southeast Asian Games, a gold medal at the Asian Games, and participation in the 2024 Olympic qualifiers in Paris. At the club level, 2024 was a historic year for Newsome. He secured a PBA championship title with the Meralco Bolts, marking the club’s first-ever league victory. Additionally, he was named Finals MVP of the Philippine Cup.

For Newsome, the highlight of his career so far has been the 2023 Asian Games, where he helped the Philippines win its first gold medal in 61 years. This victory was not just a personal milestone but also a defining moment for the league, which continues to grow stronger each year.

Why Philippines’ basketball is gaining in popularity

Newsome highlights that professional sports demand not only physical effort but also strong mental resilience. “Injuries, fatigue, and the pressure of expectations – all of these factors affect performance. The hardest part is staying motivated, no matter the circumstances,” he explains. According to the player, it is crucial to overcome difficult moments, find inner balance, and not let temporary setbacks hinder progress.

Basketball in the Philippines is more than just a sport – it is a national passion.

“The game knows no boundaries; everyone plays it, regardless of age or social status.”
Chris Newsome

He also points out that the level of local players has significantly improved in recent years, thanks to access to modern training methods and digital platforms. This has strengthened the foundation for the sport’s development in the country. Newsome believes that the younger generation is becoming smarter and more technically skilled due to online resources and better access to educational materials.

The rise in basketball’s popularity across Asia is also linked to the increasing number of international tournaments in which teams compete. The 2024 FIBA Basketball World Cup, co-hosted by the Philippines, Indonesia, and Japan, provided local players with invaluable experience, allowing them to observe and learn from the best basketball talents in the world. In the coming years, fans can expect to see even faster progress in the sport across the region.

What keeps Newsome going: interests beyond basketball

Newsome believes that a professional athlete should have a broad perspective on life. Apart from basketball, he has a deep passion for movies, music, and video games.

‘The biggest challenge for me has been staying motivated, regardless of the circumstances. Finding a balance between sports and personal life is essential to avoid emotional burnout,’ he explains.

The support of his loved ones also plays a crucial role. Recently, he proposed to his longtime partner, Cam, choosing a deeply symbolic date – November 11, 2024, at exactly 11:11 AM.

‘We both believe in symbols, and this day was truly special for us,’ says Chris. Unlike grand celebrity engagements, he opted for a more intimate approach. ‘We are simple people who cherish the company of family and friends more than the extravagance of an event,’ he adds.

How 1xBet helps Newsome become true role model

Chris Newsome’s partnership with 1xBet began after the Olympic qualifying tournament in Riga and his first PBA championship victory, where he was also named Finals MVP. The abundance of awards is what unites the player with the bookmaker. Similarly, 1xBet’s affiliate program has won numerous prestigious accolades, including IGA and SBC Awards.

For Newsome, this collaboration goes beyond a typical brand partnership – it’s about shared values and meaningful connections.

“What I appreciate most is that 1xBet respects me not just as a player but as a person.”
Chris Newsome

Through this collaboration, Newsome aims to support young athletes from smaller towns in their journey to professional basketball.

“I once needed a chance, and now I want to give that chance to others,” he explains.

As part of his work with 1xBet, Chris actively engages with fans, offering them exclusive experiences and opportunities to interact with a top-level athlete. Creating unforgettable moments for fans is something both Newsome and 1xBet deeply value.

Additionally, he is considering organizing training camps and masterclasses for young athletes, providing them with access to professional coaching. With 1xBet’s massive global reach, boasting over 100,000 affiliate partners and millions of players worldwide, the potential to support and uplift future basketball stars is immense.

Chris Newsome continues to reach new heights, inspiring young athletes who dream of a career in professional sports. Thanks to the support of 1xBet, the player has the opportunity to share his experience and help future basketball stars reach the next level. This is only the beginning – many exciting chapters are yet to come.

This confidence is further reinforced by the 1xPartners program, which offers weekly commission payouts of up to 50% and conversion rates as high as 65%. These impressive figures highlight 1xBet’s reliability, and its partnerships with international sports stars like Chris Newsome underscore its commitment to excellence.

Pragmatic Play extends global collaboration with Tomorrowland

Europe

AGBrief Editorial

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April 1, 2025

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Pragmatic Play extends global collaboration with Tomorrowland

Pragmatic Play’s debut sponsorship at Tomorrowland Brazil 2024 was a resounding success, engaging diverse new audiences with immersive entertainment experiences.

The award-winning supplier was also a major sponsor at the CORE Medellín festival in Colombia in February, presenting an audiovisual activation, while the stage hosted performances from some of the world’s top house and techno artists.

This latest agreement sees Pragmatic Play extend its partnership with the iconic electronic dance music festival to become a global sponsor.

As part of the collaboration, Pragmatic Play will feature in multiple Tomorrowland festivals, each with its own unique atmosphere and creative theme. Tomorrowland Belgium, for example, will tell the story of Orbyz, a magical world of ice where a mysterious lost community is set to return.

Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “Tomorrowland has been setting new standards in festival entertainment and creative expression for the past 20 years. Sharing its commitment to delivering unforgettable experiences for audiences worldwide, Pragmatic Play is thrilled to continue its journey with Tomorrowland as an active global partner.”

Macau Secretary for Economy and Finance Tai Kin Ip warns that Macau’s fiscal revenue in 2025 might “not be as optimistic as expected,” emphasizing that the government must strictly adhere to the Basic Law’s principle of keeping expenditure within incoming revenue and managing finances prudently.

The head of the financial secretariat cites that Macau’s gross gaming revenue from January to March reached MOP57.66 billion ($7.2 billion), basically on par with the same period last year, but fell short of the budgeted target of MOP20 billion ($2.5 billion) monthly.

His opinion was shared on Tuesday at the “2025 Seminar for the industrial and commercial sectors” where he met with industry leaders in Macau before the government releases the 2025 policy address.

In his analysis, Tai Kin Ip noted that although central government policies benefiting Macau continue to show positive effects, driving steady growth in visitor arrivals, Macau’s economy faces new challenges due to increasing global economic uncertainties and noticeable changes in visitor spending patterns.

His conclusion was justified by the statistical data, which show that while total visitor spending in 2024 recorded a 5.8 percent growth, reaching MOP75.36 billion ($9.4 billion). Meanwhile, per capita spending dropped significantly by 14.6 percent to only MOP2,157 ($269), reflecting weakened spending power and the reality of uneven global economic recovery.

In response to the current economic situation, Tai Kin Ip emphasized that the SAR government will adopt a multi-pronged strategy: continuing to optimize the business environment and supporting enterprise transformation and upgrading on one hand, while vigorously promoting the “1+4” moderate economic diversification strategy on the other, focusing on cultivating emerging industries such as Traditional Chinese Medicine healthcare and modern finance.

Simultaneously, the government will accelerate the development of Hengqin, deepen cooperation with other Greater Bay Area cities, and fully leverage Macau’s advantage as a platform for China-Portuguese-speaking countries commercial cooperation service to actively expand into international markets and comprehensively enhance economic resilience.

Notably, this is not the first time the SAR government has issued warnings about fiscal revenue. Earlier last month, Chief Executive Sam Hou Fai had already clearly stated that this year’s fiscal revenue might fall short of expectations. It is understood that the government is actively researching and planning a batch of landmark development projects with significant driving effects, hoping to inject new momentum into Macau’s economy.

Chief Executive Sam Hou Fai will deliver his first policy address since taking office on the 14th of this month, with widespread public interest in how the report will address current fiscal challenges.

Thai casino poll credibility questioned as government pushes bill

Viviana Chan

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April 1, 2025

0

Thai casino poll credibility questioned as government pushes bill

Irregularities in a recent survey conducted by Thailand’s Fiscal Policy Office (FPO) have raised eyebrows among critics of the government’s entertainment complex scheme.

According to a Bangkok Post report, former election commissioner Somchai Srisutthiyakorn pointed out concerns with the survey results. The poll, which covered 71,303 people, showed almost identical levels of support for every aspect of the scheme, with 80.6 percent to 80.75 percent of people voting in favor of each of the eight topics.

This implies that approximately 57,500 out of 71,303 respondents gave the same answers, he said. Somchai remarked that the results lack credibility.

A similar opinion has also been shared by gaming expert Daniel Cheng, who pointed out that the National Institute of Development Administration (NIDA) poll, which uses a control group, offers a higher confidence level and more accurately reflects Thai public sentiment on casino legalization compared to the open online feedback process organized by the FPO of the Ministry of Finance.

As reported by AGB, a survey conducted by NIDA found that a majority of Thai citizens were concerned about the government’s plan to legalize casinos. Among respondents, 32.6 percent feared legalized casinos could increase vice and undermine national security, while 30.2 percent doubted the policy’s economic benefits.

Additionally, 28.1 percent expressed concerns about a rise in gambling addiction, 24.9 percent worried about potential money laundering activities, and 24.7 percent questioned the government’s ability to prevent criminal activities linked to casino complexes.

In contrast, a separate consultation conducted by the FPO just one day later indicated strong public support for the casino bill. During the 15-day public hearing period, over 71,000 respondents participated, with 80.75 percent expressing approval for the proposed entertainment complex plan. Many participants even suggested easing regulations on locals’ entry and gaming floor space.

Concerns over benefits and public input

Casino-entertainment complex opponents voiced concern over the way the government was pushing the scheme, saying it appeared to be rushed without sufficient public scrutiny or a proper feasibility study.

Their remarks came after chief government whip Wisut Chainarun indicated that the entertainment complex bill, approved by the cabinet on March 27th, will likely be scrutinized by April 9th.

Senator Veerasak Vijitsaengsri wrote on Facebook that the scheme is a highly divisive issue, with about 60 percent of people in favor and 40 percent against.

While the government states that the casino-entertainment complex proposal had undergone a public hearing, the senator argued that public input went largely unnoticed. He also questioned the benefits of the scheme, which supporters claim will bring multiple advantages: generating more revenue for the state, eradicating underground gambling, and resolving bribery and corruption related to illegal gambling.

Veerasak said that while the state might collect some revenue from this project, the actual beneficiaries will be investors prioritizing profit over social impacts.

As for tackling illegal gambling, he said the issue of underground lotteries remains unresolved despite various efforts, including increasing the volume of government lottery tickets.

Veerasak also voiced skepticism about the THB50 million ($1.5 million) bank account requirement, saying this would attract only the wealthy who already travel abroad to gamble legally. He emphasized that he is not completely against it, but if revenue is the only focus, it would be too late to address social impacts.

In a social media post, Parit Wacharasindhu, a People’s Party (PP) MP, urged the public to closely monitor the government’s attempt to fast-track the bill before the present parliamentary session concludes on April 10th.

He said four meeting days remain for the current session, with at least 11 urgent bills pending review. The PP lawmaker questioned what method will be used to push the casino bill ahead of the others.

The Star again looking to Bally’s as Salter Brothers Capital refinancing proposal withdrawn

The Star Entertainment Group has announced that Salter Brothers Capital (SBC) has withdrawn its proposed AU$940M ($593M) refinancing plan, leaving the embattled casino operator exploring alternative solutions including a proposal from US gaming giant Bally’s Corporation.

Daily Asia Gaming eBrief: Critics question validity of Thai casino poll data