Bally's says $260 million fine does not render Star Entertainment insolvent
BALY•Bally's says a $260 million penalty against The Star for historical anti-money-laundering violations will not render it insolvent. The penalty is payable in four installments over 19 months and triggers a review under The Star's credit facility agreement with WhiteHawk Capital Partners.
1. Penalty and credit review
The Star, backed by Bally's, faces a $260 million penalty for historical anti-money-laundering violations, payable in four installments over 19 months. The penalty triggers a review under The Star's credit facility agreement with WhiteHawk Capital Partners, and discussions with the lender are ongoing. The Star expects the facility to remain available and says scheduled payments will not affect its ability to continue operating.
