Troubled Australian casino operator Star Entertainment says it has been thrown an 11th hour multi-million dollar lifeline by US-based casino giant Bally's Corporation.

Star's business -- including casinos, bars, restaurants and hotels at resorts in Sydney, Brisbane and the Gold Coast -- has been hovering close to entering administration for months.

Bally's has agreed to inject Aus$300 million (US$187 million) for a 56.7-percent stake in Star, the two firms said in separate statements late........

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