Queensland's Office of Liquor and Gaming Regulation has completed its investigation into the suitability of Bally's Corporation and its associates to be involved in the ownership and management of The Star Entertainment Group Limited's casino operations in Queensland.
This investigation has deemed both Bally's Corporation and Investment Holdings to be suitable entities.
Following this investigation, and after careful review of the material presented to me, I have now granted the necessary regulatory approvals, which will allow Bally's Corporation and Investment Holdings to convert their debt into equity in The Star, at their discretion.
This will provide both entities with a significant ownership stake and influence over the management of The Star's casino operations in Queensland.
The investigation by the Office of Liquor and Gaming Regulation was undertaken jointly with Liquor and Gaming NSW and the NSW Independent Casino Commission.
