Queensland and New South Wales gaming authorities have given the green light to a US-led rescue package for the embattled Star Entertainment Group.

Earlier this year, Star agreed to a $300 million lifeline from US gambling giant Bally's, as well as Investment Holdings Pty Ltd, which is controlled by pub baron Bruce Mathieson and his family.

The move was approved by shareholders in June. Combined the two companies will own more than half of the embattled casino operator.

On Friday, Queensland Attorney-General Deb Frecklington announced she had given both Bally's and Investment Holdings the necessary regulatory sign offs.

She said an investigation by the state's Office of Liquor and Gaming Regulation had deemed both entities to be "suitable".

"Following this investigation, and after car

See Full Page