By Scott Murdoch SYDNEY (Reuters) -Star Entertainment Group’s shareholders approved on Wednesday an A$300 million ($195 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 U.S. 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% of investors’ proxy votes, according to company slides shown at the event that was live-streamed. A final result of the vote will be announced later on Wednesday. Bally’s said it has applied to 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, told Reuters in a text message after the vote. "We are raring to get on with it." 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% 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 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. ($1 = 1.5394 Australian dollars)

The Community College of Rhode Island offered a sneak peek Thursday of its new Table Games Dealer Training class, part of a new gaming and hospitality-based curriculum developed with a $5 million investment last year by Bally's Corp.

The Community College of Rhode Island offered a sneak peek Thursday of its new Table Games Dealer Training class, part of a new gaming and hospitality-based curriculum developed with a $5 million investment last year by Bally's Corp.

The Community College of Rhode Island offered a sneak peek Thursday of its new Table Games Dealer Training class, part of a new gaming and hospitality-based curriculum developed with a $5 million investment last year by Bally's Corp.

The closure of the westbound Washington Bridge is costing Rhode Island’s sole casino operator half a million dollars in lost revenue a month due to decreased traffic at its Lincoln facility, Bally’s Corp. officials announced Wednesday.

The closure of the westbound Washington Bridge is costing Rhode Island’s sole casino operator half a million dollars in lost revenue a month due to decreased traffic at its Lincoln facility, Bally’s Corp. officials announced Wednesday.

The corporation overseeing Rhode Island’s two casinos agreed Thursday to be acquired by its largest shareholder in a deal estimated to cost $4.6 billion.

The corporation overseeing Rhode Island’s two casinos agreed Thursday to be acquired by its largest shareholder in a deal estimated to cost $4.6 billion.

The corporation overseeing Rhode Island’s two casinos agreed Thursday to be acquired by its largest shareholder in a deal estimated to cost $4.6 billion.

Enough Bally’s Corporation shareholders at its annual meeting last week supported an unsuccessful activist proposal seeking a report on the potential savings of going smoke-free at all the Rhode Island-based casino giant’s properties that the measure can return next year.

Seeking to close a competitive disadvantage with neighboring Massachusetts and Connecticut, Bally’s wants Rhode Island lawmakers to double the credit limit high rollers can take out at its Lincoln and Tiverton casinos. At least one researcher who studies gambling is concerned about patrons chasing losses.

During a virtual annual meeting that lasted approximately 10 minutes, Bally’s Corporation shareholders Thursday rejected a proposal seeking to commission a report on the potential cost savings of going smoke-free at all properties run by Rhode Island’s sole casino operator.

During a virtual annual meeting that lasted approximately 10 minutes, Bally’s Corporation shareholders Thursday rejected a proposal seeking to commission a report on the potential cost savings of going smoke-free at all properties run by Rhode Island’s sole casino operator.

During a virtual annual meeting that lasted approximately 10 minutes, Bally’s Corporation shareholders Thursday rejected a proposal seeking to commission a report on the potential cost savings of going smoke-free at all properties run by Rhode Island’s sole casino operator.

Two days after reporting a significant first quarter loss, Bally’s Corporation on Friday morning announced the opening of a new smoke-free section at its Twin River casino in Lincoln.

Two days after reporting a significant first quarter loss, Bally’s Corporation on Friday morning announced the opening of a new smoke-free section at its Twin River casino in Lincoln.

Attempts to make Rhode Island's casinos smoke-free have stalled at the State House. Now a Michigan-based hospital network is looking to make an impact at the investor level with a shareholder proposal at Bally’s virtual annual meeting on May 16.

Attempts to make Rhode Island's casinos smoke-free have stalled at the State House. Now a Michigan-based hospital network is looking to make an impact at the investor level with a shareholder proposal at Bally’s virtual annual meeting on May 16.

Attempts to make Rhode Island's casinos smoke-free have stalled at the State House. Now a Michigan-based hospital network is looking to make an impact at the investor level with a shareholder proposal at Bally’s virtual annual meeting on May 16.

Right in line with the start date laid out in the 2023 law, live dealers at Bally’s Twin River Casino in Lincoln will begin simulcasting table and slot games to players’ phones and laptops starting March 1.

Right in line with the start date laid out in the 2023 law, live dealers at Bally’s Twin River Casino in Lincoln will begin simulcasting table and slot games to players’ phones and laptops starting March 1.

Bally's Corporation announced the donation of $5 million to the Community College of Rhode Island to develop and launch new educational programs in the gaming, hospitality, and security industries, the largest single donation in the community college’s 60-year history.

Bally's Corporation announced the donation of $5 million to the Community College of Rhode Island to develop and launch new educational programs in the gaming, hospitality, and security industries, the largest single donation in the community college’s 60-year history.

Revised legislation that allows Bally's Twin River to simulcast slot and table games to players' phones and laptops passed the Rhode Island Senate.

Lawmakers on Thursday introduced legislation on behalf of casino operator Bally’s Corp. to legalize online casino gambling in Rhode Island.