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.
In a statement issued early Friday morning, the NSW Independent Casino Commission (NICC) confirmed that Bally’s and its related entities and key individuals associated with the transaction have cleared a comprehensive probity investigation conducted by the NICC and Liquor and Gaming NSW, which assessed a range of financial and non-financial factors related to suitability.
As such, Bally’s proposed corporate and individual close associates have been approved as “suitable persons” to be associated with the management and operation of The Star Sydney.
