The deal includes provisions for the remaining $200 million, which will require shareholder approval and regulatory clearance, potentially delivered in two installments.

Star Entertainment has finalized a $300 million deal with Bally's Corporation to prevent financial collapse, marking a significant shift in ownership.

This agreement comes as Star Entertainment, which operates casinos in Sydney, Brisbane, and the Gold Coast, warned of imminent cash flow issues and the risk of administration without financial support.

The company is grappling with dwindling cash reserves, a growing debt crisis, and ongoing regulatory investigations, which have led to its license being suspended by the NSW Independent Casino Commission.

As of late March 2025, Star's license remains suspended due to ongoing concerns about its operations, further complicating its financial situation.

Star's shares have been suspended from trading on the Australian Securities Exchange since February 2025, following the company's failure to submit half-year accounts.

Investors are facing substantial losses, with Star's share price plummeting from $3.70 in 2021 to just 8 cents under the proposed deal.

Star is expected to receive part of the funding as early as this week, with the first payment of approximately $100 million due on April 9, 2025.

Despite the turmoil, Star's 8,000 employees are not at immediate risk of job loss, as the NSW and Queensland governments are prepared to intervene to protect jobs.

Once the deal is finalized, Bally's will acquire a 56.7% stake in Star Entertainment, allowing the board to present their financial accounts as a going concern.

However, Bally's faces its own challenges, including a looming AUSTRAC fine for money laundering that could reach $350 million, alongside ongoing financial difficulties.

Under the terms of the agreement, Bally's will contribute approximately $250 million to help Star meet its financial obligations, while billionaire Bruce Mathieson, Star's largest shareholder, is expected to invest an additional $50 million.