The Star Entertainment Group has taken another step toward restoring its financial stability. The investment from Bally’s Corporation and Investment Holdings into the operator has been approved by the New South Wales Independent Casino Commission (NICC) and the Queensland Office of Liquor and Gaming Regulation (OLGR).
The Star can now receive 300 million Australian dollars (approximately 194 million US dollars). A nominee director representing the investors will also be appointed to The Star’s board. Both actions are expected to be completed in the coming days, with an update provided on 25 November at the 2025 annual general meeting.
“We are very pleased to have received all regulatory approvals necessary to complete the Strategic Investment,” stated Anne Ward, Chair of The Star.
“This is a critical step in The Star’s progress towards a return to suitability and financial stability. We look forward to working with each of Bally’s and Investment Holdings to facilitate an orderly transition and to provide a pathway for a successful future for The Star.”
The investment by Bally’s and Investment Holdings in The Star has been under discussion since April of this year, when the parties signed a binding term sheet. Shareholders of the Australian operator approved the deal back in June.
NICC Chief Commissioner Philip Crawford noted that Bally’s has submitted a plan to improve The Star’s financial performance. As a condition of approval, Bally’s is required to report regularly on its progress. NICC also emphasised that the decision “does not affect the current status of The Star’s licence,” which remains suspended. NICC-appointed manager Nick Weeks continues to oversee casino operations. The operator must still meet “strict remediation and reporting requirements related to AML/CTF programs, gambling harm minimisation, governance, and cultural improvement.”
Crawford said: “Both the close associate approvals and the major change approval for The Star will allow Bally’s and Investment Holdings to move forward with their financial and operational commitments in respect of The Star which we anticipate will be happening very soon.
“Both Bally’s and Investment Holdings have assured the NICC they will continue the essential remediation work required at The Star so that it can continue to remedy the serious concerns raised in the two Bell inquiries.”
Don’t forget to subscribe to our Telegram channel!
