Star Entertainment avoids Game Over as Ballys throws 300 Million lifeline

“This will provide both entities with a significant ownership stake and influence over the management of The Star’s casino operations in Queensland.” The NICC said it has also approved the increased shareholding of Bally’s as a “major change” in the state of affairs of the casino operator of The Star Sydney, which is required under the Casino Control Act 1992. "The situation for Star workers in terms of this current financial crisis dates back to September of last year, but for many Star workers, they've been dealing with Star's uncertainty for two to three years."
Queensland regulators face pressure as CTFE and FEC’s ability to hold a casino license comes under examination. The scrutiny is fueled by historical reports of their executives’ ties to controversial junket figures. Although no formal barriers exist, the inquiry raises some doubts about the operational transition plans. For Star, the stakes are high as discussions on its AU$400 million AML failures penalty continue, which could trigger a collapse and industry-wide liquidity concerns. Once touted as Star’s most prestigious venture, the project’s AU$1 billion budget overrun and AU$1.4 billion debt burden now threaten its viability. Bally’s proposed AU$300 million rescue package underscores the urgency, with chairman Soo Kim positioning his firm as a natural successor to the company’s operations. “We believe no one will be in a better position than ourselves to run these casinos,” Kim explained.
Star casino Brisbane promises to become not just a place for gambling but a hub of cultural and entertainment events, attracting both locals and guests from around the world. On this day, the city will enter a new era filled with luxury, innovation, and exciting experiences. The opening of the renovated Star casino Brisbane is anticipated with great interest not only by gamblers and entertainment enthusiasts but also by the business community. The new complex will serve as a catalyst for economic growth, creating thousands of jobs and increasing the flow of tourists to Brisbane. Beyond gambling, the casino will offer a variety of entertainment events, including concerts, shows, and gastronomic festivals. The complex will feature new restaurants with signature cuisine from renowned chefs, bars with panoramic views of the Brisbane River, as well as nightclubs and lounge areas.
This is a fall from $1.8 billion in 2023, which was originally thought to be the low point. The Queensland LNP government released a sensitive report into Star’s Brisbane casino business partner. Lucas Michael Dunn is a prolific iGaming content writer with 8+ years of experience dissecting it all, from game and casino reviews to industry news, blogs, and guides. A psychology graduate and painter that transitioned into the iGaming world, his articles depend on proven data and tested insights to educate readers on the best gambling approaches. Beyond iGaming content craftsmanship, Lucas is an avid advocate for responsible play, focusing on empowering players to strike a balance between thrill and informed choices. A Queensland inquiry found The Star actively encouraged people banned from gaming in Victoria and NSW to gamble at its casinos in the Sunshine State.
Both casinos facilitated money laundering, particularly via junket operators, organisers of casino visits by high rollers. Unfortunately, many of these people had strong links to organised crime gangs keen to launder their illegally acquired money. Media reporting, inquiries, and royal commissions into Crown, and then Star, give some insight into how the casino business used to be run in Australia. But over the same period, expenditure at casinos declined by more than 35% nationally, and by 42% in New South Wales. Just as it was set to run out of cash on Friday March 7, Star announced a last-minute rescue package. This centred on selling its 50% stake in the Queens Wharf casino to Hong-Kong-based joint venture partners for $53 million. Level Up Casino login mobile ’s opening of a new riverside casino in Queen’s Wharf, Brisbane, was seen as a way to revitalise the business.
The Queensland government should rule out a takeover of Brisbane's new casino by Chinese investors over organised crime links, gambling reform campaigners say. One percent of the casino's gross gaming revenue was deposited in the Jupiters Casino Community Benefit Fund. This fund supported non-profit community-based groups and is administered by the Government of Queensland. Key for Star was the ability to divest the monetary commitments related to the development, which were said to be hundreds of millions of dollars worth of equity and debt contributions. As part of the agreement, the two partners also relinquished their stakes in another venture, Star Gold Coast, back to Star. The other two partners in the JV, Far East Consortium and Chow Tai Fook Enterprises, bought out Star’s stake in the project for AU$53 million.
The Star Brisbane Casino is more than just a casino — it’s a premier entertainment destination located in the heart of Queen’s Wharf, Brisbane. From dazzling shows and themed parties to gourmet dining and exciting gaming events, discover why this venue is perfect for leisure, celebrations, and unforgettable nights. The casino features hundreds of slot machines, including popular titles like Lightning Link and Dragon Link. Progressive jackpots can reach hundreds of thousands of dollars, making pokies one of the most thrilling options for big wins. In Queensland, maximum bets on pokies in casinos have no strict limit, and payouts can be massive. Guests can enjoy live music performances, spectacular shows, open-air cinema nights, themed parties, and gourmet dining events. The Sky Deck offers breathtaking panoramic views of Brisbane, while world-class restaurants and bars deliver unforgettable culinary experiences.
Without effective reform of local gambling venues and online wagering, casinos may try to mount an argument for less effective regulation. It’s also a powerful argument to speed up the transition of effective regulation to all gambling operators. In NSW and Victoria, the casinos have been required to introduce “cashless gaming” systems. Whereas most of the gambling market recovered rapidly after the end of pandemic restrictions, casinos floundered. Whatever happens to it and its casino assets, there are bigger questions about whether the age of unfettered gambling revenue for casinos may have already ended. US casino operator Bally’s Corp has today been granted probity approval by regulators in the Australian states of New South Wales and Queensland – home to Star Entertainment Group’s casinos – to become a substantial shareholder of Star. Exchange operator ASX automatically suspended shares in Star on Monday morning after the casino operator missed Friday's deadline for issuing its earnings update for the first half of the financial year.
On top of its underperforming casino business and the remediation needed to retain its casino licence, Star also faces further fines, including from the money laundering regulator AUSTRAC. Last year, Star provided for fines and penalties of $150 million from alleged non-compliance with anti-money laundering laws in its financial report for the half-year ended December 31, 2022, after ASIC raised concerns. Earlier this year, Star issued a downgrade saying it now expects to generate just $1.68 billion in total revenue from its two casinos in Queensland and its casino in NSW this financial year.

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Pub: 07 Dec 2025 15:40 UTC

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