• Bally's Corporation and Investment Holdings Pty Ltd approved as substantial shareholders of The Star Entertainment Group
• Necessary regulatory approvals received from NSW Independent Casino Commission and Queensland Office of Liquor and Gaming Regulation
• Conversion of Bally's and Investment Holdings' $300 million investment into equity and appointment of nominee Directors to The Star Board

The Star Entertainment Group Limited (ASX: SGR) has received the necessary regulatory approvals from the NSW Independent Casino Commission (NICC) and the Queensland Office of Liquor and Gaming Regulation (OLGR) to implement the strategic investments by Bally's Corporation (Bally's) and Investment Holdings Pty Ltd (ACN 006 336 303) as trustee for the BMG Discretionary Trust (Investment Holdings). These strategic investments were previously approved by The Star's shareholders at an extraordinary general meeting held on 25 June 2025. The NICC and OLGR have now provided the required approvals to permit the conversion of Bally's and Investment Holdings' $300 million investment in The Star into equity and the subsequent appointment of nominee Directors to The Star's Board. The Star expects this to occur in the coming days and will provide an update at its 2025 Annual General Meeting on 25 November 2025. The Star's Chairman, Anne Ward, stated that this is a critical step in The Star's progress towards a return to suitability and financial stability, and the company looks forward to working with Bally's and Investment Holdings to facilitate an orderly transition and provide a pathway for a successful future.