Good morning. Look at the stars. Look how they shine for you. That glow just got brighter for The Star, after securing a new $390 million refinancing deal, along with additional liquidity, signed with WhiteHawk Capital. The move gives the operator some breathing room to assuage lenders and get back its footing, following a lengthy battle for survival. Meanwhile, Asia Pioneer Entertainment saw a strong uptick in sales from its core market Macau in FY25, but is aiming to diversify to Singapore and Abu Dhabi and increase its product offerings. And in South Korea, Paradise is adding the Co to its management style, with a joint-CEO model established as part of its governance revamp.
What you need to know
- The Star inks binding agreement with WhiteHawk Capital for $390 million in refinancing, plus additional liquidity to support operations.
- Asia Pioneer Entertainment sees $784K profit for FY25, procuring distributor licenses in Singapore and Abu Dhabi.
- South Korea’s Paradise Co. is adopting a co-CEO model as part of its governance overhaul, with Lim Jun-shin appointed joint-CEO.
On the radar
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- Macau February hotel occupancy hit 95% on CNY travel surge.
- Cambodia rolls out “China Ready” plan with visa-free trial for tourists.
- Universal Entertainment reshuffles board as governance reforms continue.
- APE partners with Cartamundi for sustainable production tech in Macau.
AGB Intelligence
AUSTRALIA
The Star secures $390M refinancing from WhiteHawk
The Star is clawing its way back to success, announcing this morning that it had secured a $390 million refinancing deal with US-based WhiteHawk Capital Partners, as well as additional liquidity to support operations. The group aims to complete the refinancing by mid-May to meet loan covenants with senior lenders. The refinancing gives additional weight to Bally’s Corp’s guarantees it could turn the company around, following its significant investment and The Star’s board overhaul.
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