Bally’s cleared to assume control of Star Entertainment after regulatory approvals

Bally’s Corporation has secured important regulatory approvals that finally opens the door for the US based gaming company to take real control of The Star Entertainment Group. This comes after months of financial uncertainty and repeated delays in refinancing.

The approvals were granted on November 21 by the NSW Independent Casino Commission and Queensland’s Office of Liquor and Gaming Regulation (OLGR). They allow Bally’s to convert its previously announced AUD $300 million ($193 million) investment into equity, a move that shareholders supported in June.