Star Entertainment to raise $800m after $988m hit on Sydney casino

After being forced to pay $100m in fines in both New South Wales and Queensland, the Star Entertainment is raising $800m at a substantial discount. The company said it would raise the money at a share price of $1.20 or a 21% discount from its most recent trading price. The stock transaction was a need to get covenant relief from lenders, to whom the Star owed $1.3bn as of 31 December. The equity raise will decrease the Star's net debt from $1....