{"id":777035142,"date":"2025-11-26T09:55:37","date_gmt":"2025-11-26T12:55:37","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777035142"},"modified":"2026-04-21T16:40:30","modified_gmt":"2026-04-21T19:40:30","slug":"ballys-to-take-control-of-star-entertainment-after-regulatory-green-light","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ballys-to-take-control-of-star-entertainment-after-regulatory-green-light","title":{"rendered":"Bally\u2019s to take control of Star Entertainment after regulatory green light"},"content":{"rendered":"\n

Regulators in NSW and Queensland have approved the AUS$193m investment.<\/p>\n\n\n\n\n\n\n\n

Australia.- Bally\u2019s Corporation<\/strong> is to take majority control of The Star Entertainment Group<\/strong> by the end of this week following the completion of regulatory approvals and conditions on the AU$300m (US$193m) investment<\/a>. Approval from the New South Wales Independent Casino Commission (NICC) and Queensland\u2019s Office of Liquor and Gaming Regulation (OLGR) allows Bally\u2019s and the Mathieson family\u2019s Investment Holdings to convert their notes into equity. <\/p>\n\n\n\n

Upon conversion, Bally\u2019s will hold approximately 38 per cent of Star\u2019s issued capital, with Investment Holdings controlling around 23 per cent. Together they will hold 61 per cent<\/strong>. The move comes after The Star spent the past two years navigating liquidity pressure and regulatory investigations.<\/p>\n\n\n\n

Outgoing Chair Anne Ward<\/strong> described the approvals as critical to help stabilise the company. Key unresolved challenges include Star\u2019s exit from the Destination Brisbane Consortium pending AUSTRAC civil proceedings and the recovery of suspended licences in New South Wales and Queensland. Ward said the board had operated under \u201cextraordinary pressure\u201d this year, holding 91 board meetings.<\/p>\n\n\n\n

NICC\u2019s probity assessment deemed Bally\u2019s and key associates \u201csuitable persons\u201d, though the operator’s licence remains suspended. Regulators have attached conditions requiring Bally\u2019s to regularly report on its financial improvement plan for Star, part of corrective measures imposed after the two inquiries uncovered serious governance and AML failings.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Bally\u2019s Corp receives probity clearance for Star Entertainment takeover<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Regulators in NSW and Queensland have approved the AUS$193m investment.<\/p>\n","protected":false},"author":680,"featured_media":26456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Bally's Corporation and Investment Holdings have secured majority control of The Star Entertainment Group following regulatory approvals in NSW and Queensland for a AU$300m investment. This strategic move aims to stabilize The Star, which has faced significant liquidity pressures and regulatory investigations over governance and AML failings, though challenges like AUSTRAC proceedings and licence recovery persist.","focusai_entities":"Bally\u2019s Corporation, The Star Entertainment Group, Mathieson family\u2019s Investment Holdings, New South Wales Independent Casino Commission (NICC), Queensland\u2019s Office of Liquor and Gaming Regulation (OLGR), Anne Ward, AUSTRAC, Destination Brisbane Consortium","focusai_location":"New South Wales, Queensland, Australia","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Star's Licence Recovery?","query":"What specific operational and governance milestones must The Star Entertainment Group achieve under Bally's majority control to fully recover its suspended casino licences in New South Wales and Queensland?"},{"label":"AUSTRAC Proceedings Impact?","query":"How might the ongoing AUSTRAC civil proceedings against The Star Entertainment Group impact Bally's Corporation's financial improvement plan and its strategic exit from the Destination Brisbane Consortium?"}],"footnotes":""},"categories":[16336,157],"tags":[289,25006,24103],"class_list":["post-777035142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-australia","tag-ballys-corporation","tag-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777035142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/680"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777035142"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777035142\/revisions"}],"predecessor-version":[{"id":777035150,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777035142\/revisions\/777035150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26456"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777035142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777035142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777035142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}