The Star Changes Financial Advisor Following Bally’s Investment Takeover

Australia’s embattled casino operator The Star Entertainment Group has reportedly shifted financial advisors following the completion of a major investment transaction involving Bally’s Corporation and its investment partners, marking another milestone in the group’s ongoing restructuring efforts.

According to market reports, the change comes shortly after Bally’s-backed investment holdings formalised their entry into The Star’s shareholder base, a deal widely viewed as a critical liquidity lifeline for the casino group. With new capital secured and a reshaped ownership structure emerging, the appointment of a new financial advisor is seen as a natural step as The Star recalibrates its strategic and financial priorities.

The Star has been under sustained pressure over the past two years, grappling with regulatory interventions, licence reviews, and mounting debt across its key properties in Sydney, Brisbane, and the Gold Coast. These challenges have forced the group into asset sales, refinancing discussions, and negotiations with external investors, culminating in the recent Bally’s-linked transaction.

Industry observers suggest that a change in financial advisor often signals a shift in approach—from short-term survival and deal execution toward longer-term balance sheet repair and strategic repositioning. With Bally’s now involved, The Star may be preparing for more complex capital management decisions, including potential asset restructuring, operational turnaround planning, or future partnership opportunities.

Bally’s, which has extensive experience operating casinos in heavily regulated markets such as the United States, is widely regarded as bringing both capital discipline and operational know-how. Analysts note that its presence could influence governance standards and financial controls at The Star, areas that regulators have scrutinised closely in recent years.

While The Star has not publicly detailed the scope of the new advisory mandate, the timing underscores how significantly the group’s circumstances have changed since the depths of its financial distress. As regulatory conditions stabilise and new investors take a more active role, the focus is expected to shift toward restoring market confidence and rebuilding the group’s long-term viability.

For Australia’s casino sector, the development is another reminder that capital structure, governance, and regulatory credibility are now tightly intertwined. How effectively The Star and its new partners manage this next phase may shape not only the company’s future, but also investor sentiment toward the broader Australian gaming market.