Bally’s Reports Star Remediation Advancing at Good Pace After AU$260 Million Penalty

Bally’s Corp has expressed confidence that remediation at The Star Entertainment Group is progressing at a good pace under new leadership. The statement follows the Federal Court’s decision to impose an AU$260 million penalty on Star for historical anti-money laundering compliance failures.

Soo Kim, chairman of Bally’s and Star, said the new leadership inherited an extraordinarily challenging situation. The team has approached the turnaround with discipline, urgency and a clear understanding that strong casino operations and strong regulatory compliance must go hand in hand.

“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,” Kim stated. Bally’s holds a 38% stake after partnering last year on a AU$300 million rescue package.

Star’s September 2026 quarter results showed positive EBITDA and free cash flow for the first time in over two years. Kim noted this turnaround is about more than financial performance. It is about rebuilding the company from the inside out: its culture, its controls, its operating discipline and its relationship with regulators and the communities it serves.

Bally’s cited its experience operating casinos in highly regulated jurisdictions. The company thanked regulators for constructive engagement and said the Federal Court decision does not render Star insolvent. Kim has previously flagged communication shortfalls across Star’s integrated resorts and insufficient focus on VIP customers.

Star’s Leadership and Compliance Priorities

The new team is reversing years of operational and cultural shortcomings. Accountability is framed as essential because gaming is a privilege, not a right. Bally’s continues to supply resources and expertise to support this process.

Penalty Aftermath and Business Direction

The AU$260 million AUSTRAC resolution closes a long-running civil case. According to reporting by Inside Asian Gaming, Bally’s maintains the business direction remains sound. Further work lies ahead to sustain momentum in both compliance and commercial performance.