Bally’s proposes A$250m convertible-note funding for Star Entertainment
Bally’s submitted an unsolicited A$250m funding proposal to Star Entertainment, the company said in a letter to Star’s board shared with the ASX. The proposal would use convertible notes that could convert into at least 50.1% of Star’s shares, giving Bally’s a controlling stake. Star had not accepted the proposal in the supplied report.
Star’s unaccepted funding proposal could provide capital while giving Bally’s a controlling stake if the convertible notes convert.