Reported about 14 hours ago
Star Entertainment Group Ltd. is evaluating a recapitalization proposal from Bally’s Corp. that could lead to the transfer of control to the US casino group. Under the proposal, Bally’s would inject at least A$250 million ($157 million) into Star, which in return would issue convertible notes for a majority stake. The board will review the offer, although its progression is uncertain, complicating Star's recent agreement to sell its Brisbane casino stake and ongoing financial challenges amid regulatory scrutiny for past money laundering violations.
Source: YAHOO