Bally’s Corporation has received NSW Independent Casino Commission’s (NICC) approval to become a major casino shareholder in The Star Sydney. This is a major event in the ongoing transformation of the operator. The approval is the result of a complex and well-scrutinised probity process, reaffirming Bally’s suitability to assume a significant governance and financial role at one of Australia’s biggest and most watched casino assets.
The Star is currently walking a tight rope, with higher scrutiny and a licence suspension from operating since its announcement. Bally’s arrival offers a new kind of international talent, investment certainty, and board review as it works to rebuild integrity and trust with regulators and the public. The release has been announced by the NICC that Bally’s ‘can make the next move’ in enhancing its status in the casino group
NICC Approves Bally’s Corporation as Substantial Shareholder in The Star Sydney
The NICC confirmed that Bally’s Corporation and its various related investment entities had been approved to become substantial shareholders in The Star Entertainment Group. Under the Casino Control Act 1992, this move marks a ‘major change’. It sees Bally’s taking on a greater role of controlling and being responsible for the process while at the same time benefiting from the casino’s ongoing remediation plan.
This decision signals commitment and confidence from regulators in Bally’s within the following sections:
- Operational integrity.
- Financial credibility.
- Responsible management
It also underscores the NSW government’s readiness to accommodate new, reputable international partners in the struggle to re-establish The Star’s long-term viability.
Probity Investigation Details
Before receiving the green light, Bally’s Corporation and its associates were required to undergo a rigorous casino probity investigation conducted jointly by the NICC and Liquor and Gaming NSW (L&GNSW). This process examined the following:
- Corporate history
- Financial structures
- Board members
- Internal controls
- Global regulatory records
The assessment concluded that Bally’s and its investment partners met all suitability requirements, clearing them to hold a significant stake in The Star. The probity checks focused heavily on understanding Bally’s risk management frameworks, AML/CTF safeguards, and governance structures. These are the top key elements when evaluating the operator’s fitness to join a casino group still working through compliance failures.
Regulators expressed that such an approval does not reflect a softening approach. Instead, it demonstrates that suitable shareholders can still participate in NSW’s casino sector if they meet stringent, transparent standards.
Regulatory & Compliance Update
The NICC noted that Bally’s approval represents a major regulatory change under the Casino Control Act of 1992. It has hinted at the direction that substantial shareholders can exert over strategic decisions, financial priorities, and governance frameworks.
Despite this progress, The Star Sydney’s casino license suspension remains in place. This means the property continues to operate under the control of special manager Nick Weeks, who was appointed to ensure strict oversight of daily operations, AML/CTF compliance, and ongoing remediation tasks.
The NICC reiterated that the approval of new shareholders does not alter the regulatory expectations placed on The Star. The casino must still demonstrate substantial improvement across risk management, financial reporting, and responsible gambling before reinstatement of its license will be considered.
Remediation and Responsible Gaming Initiatives
Covered under the terms of the granting, Bally Corporation and Investment Holdings are obliged to continue to fund, as part of its scope, The Star’s casino governance, remediation and risk management initiatives. These include:
- Enhancing AML/CTF procedures and reporting.
- Reinforcing responsible gambling structures.
- Enhancing board-level oversight and transparency in the decision-making process
- Tackling past compliance failures uncovered during investigations.
Bally’s has pledged to be at the forefront of the casino’s remediation, such that the best global practices are employed in The Star Sydney’s operating climate. Regulators have called for responsible use of gambling technology as a key strategic focus, and for shareholders to consistently invest in safer gambling technologies, staff training and customer protection.
Future Commitment
The NICC clarified that Bally’s approval is contingent upon continued cooperation, transparency, and adherence to strict reporting obligations. As a key casino shareholder, Bally’s must report the following to the NICC on a regular basis:
- Material changes
- Financial updates
- Governance decisions
The Star Sydney is also expected to deliver a comprehensive financial performance improvement plan outlining how Bally’s capital input and strategic support will help stabilize and grow the business in the medium to long term. This plan must demonstrate sustainable recovery, improved profitability, and compliance-driven leadership. Bally’s Corporation is responsible for ensuring that its involvement supports:
- Clear financial improvement metrics
- Stronger internal oversight
- Continued cooperation with NSW regulators
- Modernization of risk controls and AML/CTF frameworks
Our Final Verdict
Bally’s Corporation gaining NICC approval as a substantial shareholder marks a pivotal moment in the future of The Star Sydney. The path forward requires transparency, strict adherence to remediation programs, and unwavering commitment to responsible gambling. If these elements remain consistent, Bally’s involvement may prove to be a significant turning point in The Star’s long-awaited recovery.
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