{"id":2170179,"date":"2025-11-21T10:59:52","date_gmt":"2025-11-21T10:59:52","guid":{"rendered":"https:\/\/celebrity.land\/en\/?p=2170179"},"modified":"2025-11-21T10:59:52","modified_gmt":"2025-11-21T10:59:52","slug":"ballys-corp-cleared-to-claim-control-of-australias-star-entertainment-group-after-receiving-probity-approval-from-regulators-iag","status":"publish","type":"post","link":"https:\/\/celebrity.land\/en\/ballys-corp-cleared-to-claim-control-of-australias-star-entertainment-group-after-receiving-probity-approval-from-regulators-iag\/","title":{"rendered":"Bally\u2019s Corp cleared to claim control of Australia\u2019s Star Entertainment Group after receiving probity approval from regulators \u2013 IAG"},"content":{"rendered":"

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US casino operator Bally\u2019s Corp has today been granted probity approval by regulators in the Australian states of New South Wales and Queensland \u2013 home to Star Entertainment Group\u2019s casinos \u2013 to become a substantial shareholder of Star.<\/p>\n

In a statement issued early Friday morning, the NSW Independent Casino Commission (NICC) confirmed that Bally\u2019s and its related entities and key individuals associated with the transaction have cleared a comprehensive probity investigation conducted by the NICC and Liquor and Gaming NSW, which assessed a range of financial and non-financial factors related to suitability.<\/p>\n

As such, Bally\u2019s proposed corporate and individual close associates have been approved as \u201csuitable persons\u201d to be associated with the management and operation of The Star Sydney.<\/p>\n

The NICC said it has also approved the increased shareholding of Bally\u2019s as a \u201cmajor change\u201d in the state of affairs of the casino operator of The Star Sydney, which is required under the Casino Control Act 1992.<\/p>\n

Queensland Attorney-General Deb Frecklington issued a statement of her own on Friday morning in which she revealed the Office of Liquor and Gaming Regulation had in conjunction with NSW regulators completed its investigation into the suitability of Bally\u2019s Corporation and associates to be involved in the ownership and management of Star\u2019s casino operations in Queensland \u2013 currently comprising The Star Gold Coast and The Star Brisbane. Star is, however, in the process of offloading its 50% interest in the Brisbane operation<\/a>.<\/p>\n

\u201cFollowing this investigation, and after careful review of the material presented to me, I have now granted the necessary regulatory approvals, which will allow Bally\u2019s Corporation and Investment Holdings to convert their debt into equity in The Star, at their discretion,\u201d Frecklington said.<\/p>\n

\u201cThis will provide both entities with a significant ownership stake and influence over the management of The Star\u2019s casino operations in Queensland.\u201d<\/p>\n

As reported by IAG<\/em><\/a>, Bally\u2019s and Bruce Mathieson\u2019s Investment Holdings have provided an AU$300 million (US$195 million) rescue package to Star that will upon conversion raise their combined stake in the company to 61%, of which Bally\u2019s will hold around 38%.<\/p>\n

In announcing probity approval, NICC Chief Commissioner Philip Crawford said Bally\u2019s had submitted a plan to improve Star\u2019s financial performance, which it will be required to report back on regularly as a condition of the approval.<\/p>\n

\u201cBally\u2019s Corporation and its associated entities have undergone a rigorous assessment and ultimately satisfied the NICC that there are no adverse findings that would prevent them from becoming close associates of The Star,\u201d Crawford said, adding that Mathieson and Investment Holdings had also been approved to increase their shareholdings in the company.<\/p>\n

\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

\u201cBally\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

The NICC\u2019s decision does not affect the current status of The Star\u2019s licence which remains suspended, with NICC-appointed manager Nick Weeks continuing to have oversight over casino operations, the regulator added.<\/p>\n<\/p><\/div>\n

\u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n

\u2018 Some details of this article were extracted from the following source asgam.com \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

US casino operator Bally\u2019s Corp has today been granted probity approval by regulators in the Australian states of New South Wales and Queensland \u2013 home to Star Entertainment Group\u2019s casinos \u2013 to become a substantial shareholder of Star. In a statement issued early Friday morning, the NSW Independent Casino Commission (NICC) confirmed that Bally\u2019s and […]<\/p>\n","protected":false},"author":2,"featured_media":2170180,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[],"class_list":["post-2170179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2025\/11\/Ballys-Corp-cleared-to-claim-control-of-Australias-Star-Entertainment.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2170179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2170179"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2170179\/revisions"}],"predecessor-version":[{"id":2170181,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2170179\/revisions\/2170181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/2170180"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2170179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2170179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2170179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}