Star allowed Suncity to secretly operate an unbranded VIP room, known as "Salon 95," which continued to exist after then-Star CEO Matt Bekier told regulators his company had severed business links with the junket. "If you want to run a casino, you’ve got to put in place very costly and significant systems, processes and controls," said White, blackcoin.co as reported by The Australian. "There was a manifest failure on the part of Star to do that and that warrants this court imposing a very high penalty, much higher than $100 million.
Bally's says its proven track record of revitalising businesses means there is a "brighter future" for the Australian operator. Over the past decade, the giant has bought out and revamped casinos across 11 US states, recently acquired a UK casino and is building a venue in Chicago. Bally's started in 2004 by acquiring a British horse and greyhound racing company and its tracks before it began investing in casinos. The Star is exploring a possible injection of $100 million by its largest shareholder Bruce Mathieson, which would result in Bally's contribution dropping to $200 million. The remaining funds will be paid either following a shareholder vote or split into two payments before October 7. Bally's, which owns and manages 19 casinos in the US, will get a 56.7 per cent stake in The Star. An independent expert report released in May valued The Star between $1.17 billion and $1.38 billion, with liabilities of about $490 million, the court was told.