Star Entertainment Group (ASX:SGR) secured a $390 million senior secured financing facility from WhiteHawk Capital Partners, strengthening liquidity and refinancing existing debt amid ongoing operational and financial pressures, according to a Tuesday statement from WhiteHawk.
The company recently secured AU$300 million in equity funding from Bally's Corporation and Investment Holdings.
Heartland Group Holdings (ASX:HGH, NZE:HGH) entered into a conditional merger implementation agreement to acquire TSB Bank from Toi Foundation for NZ$620 million, with the transaction to result in the merger of Heartland Bank and TSB into a new entity, TSB Heartland Bank, according to Tuesday filings with the Australian and New Zealand bourses.The aggregate consideration paid to Toi Foundation represents 76% of TSB's book value and comprises ordinary equity in Heartland giving Toi Foundation a 17.5% stake, a pre-completion cash dividend from TSB, a vendor loan to Heartland, and a Tier 2 capital subscription in Heartland Bank, per the filing.The company anticipates around NZ$34 million in annual pre-tax synergies once fully realized, which are expected to enhance earnings and support dividend growth prospects, the filing said.The transaction, expected to close in December, is still contingent on shareholder approval, regulatory approvals, and consultation with the Taranaki community, the filing added.
Fonterra Co-operative Group (NZE:FCG) said that Chief Innovation and Brand Officer Komal Mistry-Mehta will step down, effective October, according to a Tuesday filing with the New Zealand bourse.
Star Entertainment Group (ASX:SGR) said its Sydney casino was fined a total of AU$10 million by the New South Wales Independent Casino Commission (NICC) over multiple compliance breaches and must set aside a further AU$5 million to strengthen financial crime risk management technology, according to an Australian bourse filing on Monday after market hours.The penalties comprise AU$1.5 million for allowing patrons to gamble beyond permitted time limits, AU$3 million for enabling the conversion of casino reward points into cash, AU$500,000 for failing to prevent an excluded patron from entering the casino on nine occasions, and AU$5 million for widespread shortcomings in financial crime risk management, per the filing.The NICC acknowledged major improvements under the company's new leadership and technology upgrades but said the penalties reflect the serious breaches that exposed customers to gambling harm and increased the risk of criminal infiltration, the filing added.