Latest news with #SalterBrothers
Time Out
25-05-2025
- Business
- Time Out
BREAKING: Legendary chef Rick Stein is opening his flagship restaurant in Sydney
In fresh news, Rick Stein – legendary chef, TV star, cookbook author and purveyor of excellent seafood – has announced he, alongside his Aussie wife Sas Stein, will be opening a flagship restaurant in Sydney's Coogee. Called Rick Stein at Coogee Beach, the 224-seat restaurant will boast a beautiful beachfront location within the recently announced InterContinental Sydney Coogee Beach. It's set to open this November – right in time for a Sydney summer. Although Stein has NSW restaurants in M ollymook and Port Stephens, this new restaurant will be his flagship Australian restaurant. Featuring a coastal chic restaurant, relaxed bar perfect for golden hour and sun-drenched courtyard, the new Rick Stein at Coogee Beach will bring Stein's signature fresh seafood and relaxed vibe to the Eastern Suburbs. Stein says: 'Coogee Beach is yet another stunning coastal location for our Australian restaurant portfolio – perched by the sea and full of the laidback charm we've come to love so much here. It's especially meaningful for me as my wife Sas grew up in Sydney, so opening a restaurant in her hometown makes this venture all the more special for us both. "There's an abundance of top-quality seafood in Australia, and we'll be championing local, seasonal produce with the benefit of accessing the biggest fish market in the Southern Hemisphere. We'll continue to utilise the relationships we've built in our regional locations to source that same produce in Sydney. It's the best of both worlds.' As for the menu, expect mahi mahi caught off the coast of Nelson Bay, Stockton pipis from Port Stephens, line-caught mackerel from Ulladulla, and Nelson Bay blue swimmer crab for Stein's signature Singapore Chilli Crab. Plus, there'll be Stein's British-style fish and chips with mushy peas and hand-cut chips. The restaurant is a joint collaboration with Australian partners Salter Brothers, who acquired Bannisters Group in 2024. Fresh seafood, a couple of Margaritas and Sydney sun and sea? Rick Stein at Coogee Beach – Bring. It. On.
Yahoo
12-03-2025
- Business
- Yahoo
Australia's Star names Salter Brothers as party behind $590 million refinancing play
By Rishav Chatterjee and Byron Kaye (Reuters) -Australia's No. 2 casino operator Star Entertainment said it has opened its books to investment group Salter Brothers for a debt refinancing proposal worth up to A$940 million ($590 million) that could help stave off a collapse. The proposal from Melbourne-based Salter Brothers, which has investments in commercial real estate assets such as hotels and childcare centres, would enable cash-strapped Star to service the massive debts it acquired during a protracted industry downturn, the casino firm added. It also builds competitive tension between financiers looking to bail out the company in exchange for high lending rates or a potential equity stake. A day earlier, Star said U.S. casino firm Bally's Corp made a refinancing approach that could give it 50.1% of the Australian firm. Salter Brothers and Bally's did not respond to Reuters requests for comment. Star had previously said it received a debt refinancing approach worth up to A$940 million without saying who from. In a two-paragraph statement on Tuesday, Star named Salter Brothers as the party and added that it "has entered into an exclusivity and process deed with Salter Brothers Capital relating to that Refinancing Proposal". A Star spokesperson did not respond to a Reuters request for additional comment. Australia's casino sector has been experiencing a protracted downturn due to damaging regulatory inquiries, as well as lockdowns and a border closure related to COVID-19, followed by rising costs of debt. The company's shares have been suspended from trading since last Monday after it failed to sign off on its half-year accounts by an end-February deadline. The board said at the time it was concerned about the company's ability to meet near-term liabilities. Star said last week it would sell its 50% stake in a just-opened casino in Brisbane to Hong Kong's Far East Consortium International and Chow Tai Fook Enterprises for A$53 million, an asset that media reports said cost A$3.6 billion to build. ($1 = 1.5946 Australian dollars)
Reuters
11-03-2025
- Business
- Reuters
Star in talks with Salter Brothers for up to $589 million refinancing
March 11 (Reuters) - Star Entertainment ( opens new tab has opened its books to property funds manager, Salter Brothers, to potentially refinance all the embattled casino firm's debt through an up to A$940 million ($589.47 million) refinancing package. The Australian firm previously indicated that an unnamed party had offered as much as A$940 million in refinancing earlier in the month, but had not provided any more details. Star Entertainment on Tuesday said the unnamed financier was one of Australia's leading alternative investment managers, Salter Brothers Capital. Salter, under the refinancing proposal, is offering A$750 million to Star along with the option to pay interest-in-kind for a period of time. The proposal could provide total debt capacity of up to A$940 million, including interest, with the condition that Star maintains A$50 million in cash. The firms have until March 18 to finalise the funding package. Salter Brothers did not immediately respond to a Reuters request for comment. ($1 = 1.5946 Australian dollars)
