Bally's enters binding term sheet to invest AUD 300M in The Star, gaining ~56.7% stake

Bally's Corp

Bally's will invest AUD 300M (approx. USD 187M) via convertible notes and subordinated debt.
Bally's portion reduced to AUD 200M as The Star's largest shareholder subscribes AUD 100M.
First tranche of approx. AUD 66.7M (USD 40.3M) closed on April 9, 2025.
Conversion price fixed at AUD 0.08/share; notes mature July 2, 2029, with 9% annual interest.
Transaction subject to shareholder and regulatory approvals; Bally's gets board observer seat.

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