Bally’s Corporation Comments on The Star Entertainment Group AUSTRAC Decision and Continued Turnaround
Business Wire•29/10/2026•09:39 ET
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Key Highlights
- ➤AUSTRAC penalty A$260 million, payable in four installments over 19 months
- ➤The Star Group EBITDA A$12 million in fiscal 2027 Q1, improving A$25 million year over year
- ➤Sydney and Gold Coast revenue rose 9% versus fiscal 2026 fourth quarter
- ➤The Star said penalty payment will not affect its ability to continue as a going concern
- ➤NICC cited materially significant improvement in The Star’s remediation progress under new leadership
Expert Statements
Soo Kim, Executive chairman of Bally’s Corporation and chairman of The Star Entertainment Group
“The issues underlying today’s decision are important, and we respect the work of AUSTRAC and the Federal Court in holding the industry to the high standards expected of casino operators”
Soo Kim, Executive chairman of Bally’s Corporation and chairman of The Star Entertainment Group
“We are equally proud of what The Star’s new leadership team has accomplished in a relatively short period of time. They inherited an extraordinarily challenging situation and have approached the turnaround with discipline, urgency and a clear understanding that strong casino operations and strong regulatory compliance must go hand in hand.”
Soo Kim, Executive chairman of Bally’s Corporation and chairman of The Star Entertainment Group
“Fortunately for us, the turnaround is progressing at a good pace. The circumstances at The Star today are materially different from when we first became involved. Bally’s has decades of experience operating casinos in highly regulated jurisdictions, and we believe that expertise, combined with the commitment of The Star’s leadership and team members, is making a meaningful difference. We are thankful for the constructive engagement of regulators throughout this process and proud of the progress being made. There is more work ahead, but we remain confident in the direction of the business and do not believe today’s decision renders The Star insolvent.”
Philip Crawford, Chief Commissioner of the NSW Independent Casino Commission
“considerable progress at The Star under their new leadership”
Philip Crawford, Chief Commissioner of the NSW Independent Casino Commission
“materially significant improvement”
Bally’s Corporation Comments on The Star Entertainment Group AUSTRAC Decision and Continued Turnaround
Company points to significant operational improvement, regulatory progress and strengthened leadership since Bally’s investment
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