Star Entertainment Group (ASX:SGR) disclosed various liquidity initiatives amid efforts to stay afloat, including a refinancing proposal that could generate up to AU$940 million, according to a March 7 filing with the Australian bourse.

The cash-strapped casino operator entered into documentation for a senior secured AU$250 million bridge facility with funds managed by King Street Capital Management. The loan is subject to an intercreditor agreement with Star Entertainment's existing lenders, probity approvals, and regulatory consents for the company to provide first ranking security over The Star Gold Coast, among other conditions. The bridge facility is available to be drawn until April 29, per the filing.

Separately, Star Entertainment received a refinancing proposal from an additional potential lender that could provide up to AU$940 million. The undisclosed lender is already engaged in preliminary discussions with governments and regulators, and is under an exclusivity and process deed with the casino operator, the filing stated.

Meanwhile, Star Entertainment said the debt financing proposal from Oaktree Capital Management has not been finalized as certain conditions remain pending.

In the same filing, the company said it received AU$35 million from Chow Tai Fook Enterprises and Far East Consortium International in relation to the The Star Gold Coast joint venture assets. Star Entertainment expects to receive AU$10 million before the end of March and a further AU$8 million once the Andaz hotel is completed or on Nov. 30, whichever occurs earlier.