Australia's Star casino shareholders approve $195mn rescue package
Star Entertainment Group has been struggling to stay afloat amid a growing debt crisis and regulatory investigations over the past two years. © Reuters
SYDNEY (Reuters) -- Star Entertainment Group's shareholders approved on Wednesday a 300 million Australian dollar ($195 million) rescue package that will allow the embattled Australian casino group to remain operational, according to a company presentation.
The rescue bid is being led by U.S. casino firm Bally's Corporation and the Mathieson family, which is Star's largest existing shareholder.
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