Bally’s has received full regulatory approval from both the New South Wales (NSW) and Queensland governments to invest in The Star Entertainment Group, marking a significant milestone in the operator’s turnaround efforts.
NSW Regulators Confirm Suitability
The NSW Independent Casino Commission (NICC) and Liquor & Gaming NSW recently finished a comprehensive probity review of Bally’s and its key associates. They confirmed the company is suitable to participate in The Star Sydney’s management and operations, although conditions still apply.
NICC Chief Commissioner Philip Crawford said Bally’s has delivered a detailed plan focused on improving The Star’s financial health. The commission will require regular updates to ensure progress continues in line with expectations.
The NICC also granted approval for the Mathieson family’s Investment Holdings to increase its shareholding in the business.
Crawford emphasized that both major shareholders must support ongoing remediation work, which aims to address the failures identified in the two Bell inquiries.
Licence Remains Suspended as Oversight Continues
Despite the investment approvals, The Star Sydney’s casino licence remains suspended. NICC-appointed special manager Nick Weeks continues to oversee daily operations while the company works to restore regulatory confidence.
Queensland Approval Completes the Path Forward
In Queensland, the Office of Liquor and Gaming Regulation also backed the strategic investment. This clearance allows The Star to convert AU$300 million (US$193.5 million) in funding into equity and begin nominating new board members alongside Bally’s and Investment Holdings.
A Critical Moment for The Star
The Star Entertainment Group Chair, Anne Ward, highlighted the importance of the decision:
“We have now secured all regulatory approvals necessary to finalize the Strategic Investment. This marks a crucial step toward regaining suitability and long-term financial stability. We look forward to working closely with Bally’s and Investment Holdings to ensure a smooth transition and build a successful future for The Star.”
