Australia’s Star Entertainment Group on Thursday reported a net loss after tax of AU$1.26 billion (US$858 million) for the six months to 31 December 2022, a direct result of regulatory action taken against it for failings uncovered across recent inquiries in NSW and Queensland.

A day after entering a trading halt amid reports the company was set to announce an AU$800 million (US$545 million) equity raising to help pay down its debt, Star today confirmed both the equity raising and the 1H23 loss, which includes AU$1.31 billion (US$892 million) in “significant items”.

“Significant items include impairment of the Sydney property assets, penalties, costs associated with the regulatory reviews, contribution towards the Bell Review [and] accounting for software changes,” Star said.