Starting from November 28, 2025, the Star Entertainment Group has made various changes in its management board.To begin with, two of the directors of the company,...
Star Entertainment awaiting Bally’s takeover this week
The Star Entertainment Group is preparing to welcome Bally’s takeover, as it will become the majority stakeholder in the company, with the deal set to be finalized by the end of November 2025.
Anne Ward, The Star’s chair, recently revealed that despite their efforts to improve the company’s financial situation, Star Entertainment still faced major problems in 2025.
On this note, Bally’s stepped up with an AUD 300 million investment aimed at helping the company, which was approved by investors in early 2025 and allowed the two companies to go ahead with the agreement. After finalizing the deal, Bally’s will hold 38% of Star’s capital, and the Investment Holding will hold 23%, making them entitled to the appointment of two board directors.
Anne Ward addressed the takeover:
“The process for the conversion of the Bally’s and Investment Holdings investments into shares is now underway and is expected to be completed later this week. We have received a conversion notice from Bally’s and expect to receive a conversion notice from Investment Holdings later today.”
There are still challenges with the company’s suitability to operate gaming activities, as regulators have stressed that The Star must work hard to obtain its license once again. But Chair Ward is hopeful that the new stakeholders will bring fresh ideas, as she plans on leaving the company after the takeover.
Star CEO Steve McCan spoke on the occasion:
“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.”
He applauded Star’s liquidity and remediation progress and welcomed Bally’s investment, showing his excitement for the arrangement. Finally, the company saw the appointment of Bruce Mathieson Jr. and Don Pasquariello as new board members.
The New York Gaming Facility Location Board announced on December 1, 2025, the results of granting licenses to the three casino proposals, voting unanimously to grant all...
