Sounds like a significant move in the Australian gaming sector! Bruce Mathieson, already holding 10% of Star Entertainment Group, backing Bally’s AU$250 million controlling stake buyout could really shift the landscape. Doubling his stake to 20% suggests strong confidence in Bally’s offer and possibly in Star’s future under this new partnership.

Given that Star has also had other offers for its assets, it seems like the company is in a tight spot financially and looking for the best way to boost liquidity. Bally’s stepping in with such a sizable funding lifeline might be just what Star needs to stabilize and maybe even grow again.