Latest news with #SooKim
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
Humble suburban bowls club thwarts casino giant
A humble suburban bowls club may have thwarted a multibillion-dollar American casino company's attempts to introduce its brand to Australia via its planned takeover of the embattled Star Entertainment Group. Shareholders of Star, which operates casinos in Brisbane, Sydney and the Gold Coast, last month approved Bally's planned takeover of the company. During a visit to Australia in April, the chairman of Bally's Corporation, Soo Kim, told this masthead the company planned to overhaul Star's assets, with a shift away from a VIP-focused business. But if the casino giant was betting all its chips on a Bally's rebrand, it might just be out of luck. When it tried to trademark its name for hospitality use in Australia earlier this year, Bally's found a bowls club in Sydney's north shore had beat it to the punch by only half a year. The Balgowlah Bowling Club – better known by locals as The Bally – applied for trademark protection of its colloquial name last September, less than six months before Bally's Corporation tried to protect its own name. Club secretary manager Tony Wagener agreed it was good timing on his part. 'I've really got my finger on the pulse of this sort of stuff,' he laughed. But on a more serious note, Wagener said The Bally name was vital for the bowls club, which almost went under last year and continues to seek community support to stay afloat.
The Age
2 days ago
- Business
- The Age
Humble suburban bowls club thwarts casino giant
A humble suburban bowls club may have thwarted a multibillion-dollar American casino company's attempts to introduce its brand to Australia via its planned takeover of the embattled Star Entertainment Group. Shareholders of Star, which operates casinos in Brisbane, Sydney and the Gold Coast, last month approved Bally's planned takeover of the company. During a visit to Australia in April, the chairman of Bally's Corporation, Soo Kim, told this masthead the company planned to overhaul Star's assets, with a shift away from a VIP-focused business. But if the casino giant was betting all its chips on a Bally's rebrand, it might just be out of luck. When it tried to trademark its name for hospitality use in Australia earlier this year, Bally's found a bowls club in Sydney's north shore had beat it to the punch by only half a year. The Balgowlah Bowling Club – better known by locals as The Bally – applied for trademark protection of its colloquial name last September, less than six months before Bally's Corporation tried to protect its own name. Club secretary manager Tony Wagener agreed it was good timing on his part. 'I've really got my finger on the pulse of this sort of stuff,' he laughed. But on a more serious note, Wagener said The Bally name was vital for the bowls club, which almost went under last year and continues to seek community support to stay afloat.
AU Financial Review
4 days ago
- Business
- AU Financial Review
Regulator zeros in on Bally's Star rescue deal
Star Entertainment's rescue plan could be under threat with the NSW casino regulator warning it will closely examine the finances and leadership of Bally's Corporation before allowing it to take control. The American gaming giant will control Star, which operates casinos in Sydney, Brisbane and the Gold Coast, after providing a $300 million lifeline earlier this year. It has already flagged its intention of overhauling management as part of a turnaround plan and Bally's chairman Soo Kim is expected to join the board of the ASX-listed gaming group.
CTV News
6 days ago
- Health
- CTV News
U of S receives grant to develop Indigenous education program in VR
The University of Saskatchewan's School of Rehabilitation Science will be developing a virtual reality health education program targeted towards Indigenous youth. 'In speaking with communities that I work with directly and in my virtual health hub work, it became apparent that health promotion information in a way that would be useful for students would be of big interest to communities,' Lovo, who also serves as the director of Virtual Physiotherapy and Rehabilitation at the Virtual Health Hub said. Dr. Soo Kim and Dr. Stacey Lovo have been working with virtual reality and laying the groundwork for the past six years. Now, thanks to a $250,000 grant from the New Frontiers Research Fund, they will spend the next two years developing a program to help engage Indigenous youth in health sciences. 'We have a responsibility to be able to use our expertise and come together as a community to come together as a team, to help them to explore different ways to learn about mental health and wellness in ways that are culturally appropriate,' Kim said. While the program is still in the early stages of development, Kim and Lovo have many ideas, thanks to the collaboration of Whitecap Dakota Nation. 'Consulting with their elders, the educators and the youth themselves to sort of bring their opinions in to build something that's really meaningful for them,' Kim said. The virtual reality program is intended to both educate youth in health sciences, and focus on Indigenous teachings which have existed for many years. Dray Bear is the former community development & special projects coordinator for Whitecap, and helped connect the U of S with the community for the project. 'Revitalization is a really strong word for it. Also, brining community together and helping others learn. Because I mean at the end of the day, this is a huge initiative that could turn into something bigger especially in terms of helping people learn and bringing the community together,' Bear said. While health science classes are offered in the Saskatchewan education curriculum, Lovo shared that there are gaps in the system when it comes to incorporating Indigenous knowledge. 'At the moment in Saskatchewan, there are not opportunities for indigenous students to take those classes from the lens of their own cultural worldview or their own language, that limits the responsiveness or applicability of that content to them.' Lovo said. This program is intended to both educate youth, and preserve the knowledge of those who existed on this land long before colonization. 'This will hopefully encourage students and youth to learn about anatomy of the brain and other parts of the body and perhaps lead them more toward health science programing if it's of interest and applicable, and can embrace the incredible knowledges that have been in their own communities for hundreds of years,' Lovo said.
Business Times
25-06-2025
- Business
- Business Times
Australia's Star casino shareholders approve A$300 million rescue package
[SYDNEY] Star Entertainment Group's shareholders approved on Wednesday (Jun 25) an A$300 million (S$250 million) rescue package that will allow the embattled Australian casino group to remain operational, according to a company presentation. The rescue bid is being led by US casino firm Bally's Corp and the Mathieson family, which is Star's largest existing shareholder. The proposal put to shareholders at a Sydney meeting was approved by more than 98 per cent of investors' proxy votes, according to company slides shown at the event that was live-streamed. The final result of the vote will be announced later on Wednesday. Bally's said it has applied to the New South Wales and Queensland governments and regulators for approval to run casinos. 'We look forward to the completion of our probity review so that we can get on with the critical mission to put The Star on a sustainable path,' Soo Kim, Bally's chairman, said in a text message after the vote. 'We are raring to get on with it.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Australia's second-largest casino operator after Blackstone-controlled Crown Resorts, Star has been struggling to stay afloat amid a growing debt crisis and regulatory investigations over the past two years. The rescue deal consists of multi-tranche convertible notes and subordinated debt instruments, and after the notes are converted, Bally's and the Mathieson family will control around 56 per cent of Star's issued capital. Star chairman Anne Ward said the company had no other option than to support the Bally's-led bid after interest from Oaktree and Salters Brothers collapsed earlier this year. 'The strategic investments ... provide cash funding and assist Star's ability to continue as a going concern, helping to avoid outcomes such as voluntary administration, which is likely not in the best interests of shareholders,' Ward told the meeting. Star said in March that it would sell half of its A$3.6 billion Queen's Wharf project in Brisbane to Hong Kong companies Far East Consortium International and Chow Tai Fook Enterprises for just A$53 million. It has also sold a theatre attached to its main casino in inner-city Sydney as part of its efforts to stay afloat. Bally's owns 19 casinos across 11 US states, according to its website, and the Star investment is its first in Australia. REUTERS
