Brisbane Broncos (ASX:BBL) has given Star Entertainment Group (ASX:SGR) a reprieve in relation to the latter's sponsorship payment, the Australian Financial Review reported on Jan. 31, citing unnamed sources.
The cash-strapped casino operator has been approved to make payments in four tranches after its latest deadline expired on Jan. 31, per the report. That deadline has been moved to this week. Star Entertainment has a five-year deal as sponsor of the National Rugby League signed in 2022, valued at AU$1.5 million per season.
Most recently, the company disclosed that it will sell assets within its Star Sydney complex to Foundation Theatres for AU$60 million amid financial woes.
Brisbane Broncos and Star Entertainment did not immediately respond to requests for comment from MT Newswires.
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