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Has Bally’s met its match in an impossible Star turnaround task?

Has Bally’s met its match in an impossible Star turnaround task?

The American giant has turned around plenty of casinos in the past. Now it is turning its attention to tackling its most daunting challenge yet.

Bally’s chairman Soo Kim outside the Star’s Sydney casino last week. Dominic Lorrimer

A blisteringly hot November evening. Diana Ross, Tom Jones, Human Nature. A quarter-tonne of lobster, fireworks, stuntmen. It was 1997, and the opening of Star City, Sydney’s first casino, a complex described by The Age as “Las Vegas meets Miami with dollops of the Australian outback, the Great Barrier Reef, Luna Park, and kitsch thrown in”.

Almost three decades later, Star is under new ownership and preparing for a hard reset. It has been a turbulent history. First the COVID-19 pandemic, then a high-profile investigation that found the casino was rife with money laundering and criminal organisations, have left it adrift. The high rollers are gone, management has turned over twice, and the casino’s owner, Star Entertainment, has all but handed itself over to an American operator that it had repeatedly spurned before running out of money.

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Zoe Samios
Zoe SamiosBusiness reporterZoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
Anthony Macdonald
Anthony MacdonaldColumnistAnthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com

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Original URL: https://www.afr.com/companies/games-and-wagering/has-bally-s-met-its-match-in-an-impossible-star-turnaround-task-20250414-p5lri6