Star Entertainment Group Limited ( (AU:SGR) ) has shared an update.
The Star Entertainment Group Limited has received an unsolicited, non-binding funding proposal from Bally’s Corporation, which includes a capital raise of at least A$250 million through convertible notes. These notes would be convertible into a majority stake of The Star’s fully diluted ordinary shares. While Bally’s is prepared to underwrite the entire amount, they are open to allowing existing shareholders to participate in the offering. The proposal is under review by The Star’s Board, but there is no certainty of progression. This proposal could significantly impact The Star’s financial structure and shareholder composition, potentially altering its market positioning.
More about Star Entertainment Group Limited
The Star Entertainment Group Limited is a company listed on the Australian Securities Exchange (ASX: SGR) operating in the entertainment industry. It focuses on providing casino and hospitality services, with a significant presence in Australia. The company is involved in the management and operation of integrated resorts, offering gaming, entertainment, and accommodation services.
YTD Price Performance: -9.92%
Average Trading Volume: 192,304
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $198.2M
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