Star Entertainment’s shareholders overwhelmingly approved a A$300 million rescue package led by U.S.-based Bally’s Corp (A$200 million) and the Mathieson family (A$100 million), with over 98 percent voting in favour. This deal comes after a challenging year marked by regulatory scrutiny and deteriorating finances
The investment includes convertible notes at A$0.08 and gives Bally’s a 38 percent stake, while the Mathieson family will hold about 23 percent. Star’s board described the deal as essential to avoid administration and stabilise operations in Queensland and NSW.
CEO Steve McCann emphasized that the funds will help preserve Star’s valuable assets and support long-term reinvestment, though ongoing challenges remain under government oversight.
