(Bloomberg) — Australian casino operator Star Entertainment Group Ltd. is planning to refinance its balance sheet after a crackdown on criminal associations and money laundering across the nation’s gambling industry eroded its financial position.

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Star Entertainment asked for its shares to be placed in a trading halt until Wednesday pending an announcement on refinancing and related capital structure initiatives, the Australian Securities Exchange said Monday. The halt comes after the company was said to be lining up as much as A$750 million ($483 million) in new cash from an equity raising and arranging A$450 million of new debt, according to a Sunday report in the Australian Financial Review.

Star shares have declined more than 44% to an all-time low so far this year, as regulators’ focus on Star’s community impact means its casinos have locked out more customers — and spent more on compliance — while discretionary spending has dropped. The company cut more than 500 jobs and recorded a net loss of A$2.44 billion in the last financial year.

The mooted equity deal alone would make Star the largest tapper of Australia’s share market this year with the second- and third-largest raisings. Star raised A$685.5 million in equity in February, putting it just behind the A$895 million accelerated non-renouncable entitlement offer made by packaging firm Orora Ltd. earlier this month to fund its purchase of French bottle maker Saverglass.

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