Star Gets Debt Lifeline and Needs Even More to Survive.

Star Entertainment Group Ltd. has secured a new A$200 million debt facility and is seeking additional capital to address its financial challenges and maintain control of its Sydney casino. The company has been found unfit to operate its flagship casino due to breaches of its license, dysfunctional leadership, and a questionable culture. Incoming CEO Steve McCann faces multiple crises, including the potential loss of the casino license and declining revenue. Star Entertainment Group has reported a loss of A$1.69 billion for the past year and is considering raising more funds to meet its near-term liquidity requirements. The company is also facing penalties for alleged breaches of anti-money laundering laws. Despite securing the debt facility, the financial situation remains precarious, and the company is exploring options to improve its performance and cash flow. [Extracted from the article]