{"id":11587,"date":"2025-11-26T07:49:53","date_gmt":"2025-11-26T07:49:53","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=11587"},"modified":"2025-11-26T07:49:57","modified_gmt":"2025-11-26T07:49:57","slug":"regulators-approve-ballys-investment-in-the-star","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2025\/11\/26\/regulators-approve-ballys-investment-in-the-star\/","title":{"rendered":"Regulators Approve Bally\u2019s Investment in The Star"},"content":{"rendered":"\n<p><strong>The Star Entertainment Group<\/strong> has taken another step toward restoring its financial stability. The investment from <strong>Bally\u2019s Corporation<\/strong> and <strong>Investment Holdings<\/strong> into the operator has been approved by the <strong>New South Wales Independent Casino Commission (NICC) <\/strong>and the <strong>Queensland Office of Liquor and Gaming Regulation (OLGR)<\/strong>.&nbsp;<\/p>\n\n\n\n<p>The Star can now receive<strong> 300 million Australian dollars (approximately 194 million US dollars)<\/strong>. A nominee director representing the investors will also be appointed to The Star\u2019s board. Both actions are expected to be completed in the coming days, with an update provided on<strong> 25 November <\/strong>at the 2025 annual general meeting.<\/p>\n\n\n\n<p>\u201cWe are very pleased to have received all regulatory approvals necessary to complete the Strategic Investment,\u201d stated <strong>Anne Ward<\/strong>, Chair of The Star.<\/p>\n\n\n\n<p>\u201cThis is a critical step in The Star\u2019s progress towards a return to suitability and financial stability. We look forward to working with each of Bally\u2019s and Investment Holdings to facilitate an orderly transition and to provide a pathway for a successful future for The Star.\u201d<\/p>\n\n\n\n<p>The investment by Bally\u2019s and Investment Holdings in The Star has been under discussion since<strong> April <\/strong>of this year, when the parties signed a binding term sheet. Shareholders of the Australian operator approved the deal back in June.<\/p>\n\n\n\n<p>NICC Chief Commissioner <strong>Philip Crawford <\/strong>noted that Bally\u2019s has submitted a plan to improve The Star\u2019s financial performance. As a condition of approval, Bally\u2019s is required to report regularly on its progress. NICC also emphasised that the decision \u201cdoes not affect the current status of The Star\u2019s licence,\u201d which remains suspended. NICC-appointed manager <strong>Nick Weeks <\/strong>continues to oversee casino operations. The operator must still meet \u201cstrict remediation and reporting requirements related to AML\/CTF programs, gambling harm minimisation, governance, and cultural improvement.\u201d<\/p>\n\n\n\n<p>Crawford said: \u201cBoth the close associate approvals and the major change approval for The Star will allow Bally\u2019s 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.<\/p>\n\n\n\n<p>\u201cBoth Bally\u2019s 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.\u201d<\/p>\n\n\n\n<p>Don\u2019t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Star Entertainment Group has taken another step toward restoring its financial stability. The investment from Bally\u2019s 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).&nbsp; The Star can now receive 300 million Australian dollars [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":11588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1,564],"tags":[10631,10350,13150,13149,9624,10204,9621,13151,9962],"class_list":["post-11587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","category-slider","tag-anne-ward","tag-ballys-corporation","tag-investment-holdings","tag-new-south-wales-independent-casino-commission","tag-nicc","tag-olgr","tag-philip-crawford","tag-queensland-office-of-liquor-and-gaming-regulation","tag-the-star-entertainment-group"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - 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