{"id":90,"date":"2025-09-12T07:22:40","date_gmt":"2025-09-12T07:22:40","guid":{"rendered":"https:\/\/slotsofgarden.club\/blog\/?p=90"},"modified":"2025-09-12T07:22:40","modified_gmt":"2025-09-12T07:22:40","slug":"nsw-watchdog-concerned-over-ballys-takeover-of-star","status":"publish","type":"post","link":"https:\/\/slotsofgarden.club\/blog\/2025\/09\/12\/nsw-watchdog-concerned-over-ballys-takeover-of-star\/","title":{"rendered":"NSW watchdog concerned over Bally&#8217;s takeover of Star"},"content":{"rendered":"<ul>\n<li>NSW has raised concerns over the future of Bally\u2019s takeover deal of Star<\/li>\n<li>The regulator is not convinced whether Bally\u2019s can bring what it takes to operate a casino<\/li>\n<li>Bally\u2019s itself has expressed doubt whether it can proceed with the deal if a stiff financial penalty is applied<\/li>\n<\/ul>\n<p><strong>Star Entertainment Group<\/strong>\u00a0finds itself in a difficult position. After the group thought that it was out of the metaphorical woods, with a lifeline offer thrown over by Bally\u2019s and\u00a0<strong>Bruce Mathieson\u2019s Investment Holdings Pty Ltd<\/strong>, which pitched an\u00a0<strong>AU$250m<\/strong>\u00a0\u2013\u00a0<strong>AU$300m<\/strong>\u00a0collective deal.<\/p>\n<h2>AFR sources cite regulatory hostility towards Bally\u2019s rescue package<\/h2>\n<p>However, soon after, Bally\u2019s raised concerns that the deal could fall through if Bally\u2019s failed to maintain profitability. Now, though, a new potential hurdle has emerged, according to the\u00a0Australian Financial Review, which did the original reporting, and which cited two of its sources close to the matter, who remained anonymous.<\/p>\n<p>The latest opposition may not come from within but from an external source \u2013 the regulator, the NSW Independent Casino Commission, and Chairman\u00a0<strong>Philip Crawford<\/strong>\u00a0supposedly said that he was &#8220;far from satisfied&#8221; with the current leadership in the company, referring to Star Entertainment.<\/p>\n<p>In other words, the NSW is not convinced that a bailout deal with the current leadership would create the conditions for Star Entertainment Group to return to not just profitability but also avoid future mismanagement.<\/p>\n<p>While there have been developments at\u00a0<strong>the C-suite level<\/strong>, these may not be sufficient, including the appointment of Group CEO and Managing Director\u00a0<strong>Steve McCann<\/strong>, who has instilled confidence in the prospects of the property.<\/p>\n<p>Surprisingly, though, Crawford may be doubtful over Bally\u2019s ability to run a casino license. According to the Australian Financial Review, the regulator\u2019s Chairman expressed his doubt about how Bally\u2019s Corporation would handle a license.<\/p>\n<p>The regulator is reportedly demanding that the company provide &#8220;clear and convincing evidence&#8221; that it can run a casino floor.<\/p>\n<h2>Bally\u2019s has the track record to turn Star\u2019s fortunes around \u2013 but can it prove it?<\/h2>\n<p>The remarks are surprising, given that Bally\u2019s Chairman\u00a0<strong>Soo Kim<\/strong>\u00a0has reaffirmed Bally\u2019s Corporation\u2019s commitment to making things right with Star Entertainment and tapping into its experience turning moribund gambling properties into winners.<\/p>\n<p>Bally\u2019s Corporation has already demonstrated its ability to pull distressed assets from the brink and capitalize on them. In the meantime,\u00a0<strong>AUSTRAC<\/strong>, the financial watchdog, is set to impose a fine that could rival the one imposed on rival\u00a0<strong>Crown Resorts<\/strong>\u00a0or even exceed that amount.<\/p>\n<p>Should this happen,\u00a0<strong>Bally\u2019s Corporation<\/strong>\u00a0may choose to pull out of the deal, fearing that its rescue package would go towards covering those costs rather than focus on Star Entertainment Group\u2019s future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NSW has raised concerns over the future of Bally\u2019s takeover deal of Star The regulator is not convinced whether Bally\u2019s can bring what it takes to operate a casino Bally\u2019s itself has expressed doubt whether it can proceed with the deal if a stiff financial penalty is applied Star Entertainment Group\u00a0finds itself in a difficult [&#8230;]\n","protected":false},"author":1,"featured_media":91,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-90","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - 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