The Star Entertainment Group has been working with Bally’s Corporation to allow the gaming giant to take over the struggling business by the end of November.
After a substantial wait for the red tape of regulatory approvals by the NSW Independent Casino Commission and Queensland’s Office of Liquor and Gaming Regulation (OLGR), the move has been greenlit.
We reported that the Australian Securities Exchange had approved for Bally’s to step in and bring their expertise to the faltering financials of the group.
$SGR The Star Entertainment Group is up 16% after securing full regulatory approval from the NSW Independent Casino Commission & Queensland OLGR for its strategic investment deal.
— The Market Bull – Daily Stock News (@TheMarketBullAU) November 21, 2025
The Star Entertainment Group looks to Bally’s as a financial saviour
The deal to bring in Bally’s was approved by The Star Entertainment Group’s shareholders in June 2025, after a challenging year for the brand.
This $300 million investment was seen by many as the first piece of positive news for the Australian betting name amid a suspended license in Sydney and the failure of multiple refinancing deals.
After an Annual General Meeting, The Star released a statement heralding the incoming support from Bally’s.
The release read, “The past financial year has been a tumultuous period for The Star. For most of the year, liquidity was a major challenge, and the Board and management worked hard to implement a range of initiatives to strengthen the Group’s financial position.”
Bally’s to stop financial freefall
Over the past year, the group has attempted to offload some of its gathering financial burdens, including the sale of a 50% stake in the Destination Brisbane Consortium, alongside the sale of buildings, the Treasury Brisbane casino, and the Sydney Event Centre.
This fire-sale of assets was a free-fall move by the group, and it will now start to level out as Bally’s negotiating power and international presence provide much-needed stability and respite.
The statement from the group closed, “Our team has made sound progress over the past 12 months. The road ahead remains very challenging with many critical milestones yet to be achieved but we have a plan, the execution of which requires continued discipline and focus.”
Busy 2025 for Bally’s
Bally’s has been busy across 2025, with deals to take substantial stakes in multiple companies coming to the fore as enhanced regulation and financial strains, such as tax regulations, grip smaller brands.
The biggest of those deals was the $3 billion acquisition of Intralot by Bally’s, which Readwrite reported in October 2025. The 58% stake was bolstered by the issue of €1.136 billion ($1.31 billion) of new shares.
Bally’s also won its Bronx casino bid in the United States after a twisting tale of opposition, with the outgoing Mayor of New York City stepping in to support approval.
The company has also moved to increase its brand exposure with the deal to become English Premier League side Nottingham Forrest’s official shirt sponsor.
Featured image: Bally’s / The Star Entertainment Group
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