Bally's takes substantial stake in Star Entertainment

The Star Entertainment Group Limited announced on December 2, 2025, that Bally's Corporation and its associated entities became a substantial shareholder with an interest of 37.8%, effective November 28, 2025. This acquisition involved 2.5bn ordinary shares for a cash consideration of $200m.

This transaction follows a previous notification on December 2, 2025, detailing a change in the interests of Investment Holdings Pty Ltd and Bruce Lawrence Mathieson, who increased their stake from 275m to 1.54bn ordinary shares, representing 23.16% of the voting power. This change was noted on November 28, 2025. The company's constitution permits the increase due to prior regulatory approvals and shareholder approval on June 25, 2025, for Investment Holdings to acquire up to 37.33% as an exception to the Corporations Act 2001 (Cth).