A wave of major moves by casino operators and owners this year is reshaping the landscape of land-based gaming — from U.S. regional expansions and Las Vegas redevelopment to cross-border acquisitions that could redraw international market maps. The activity underscores an industry pivot toward large-scale resort investments, regional diversification and strategic takeovers after regulatory and financial shocks earlier in 2025.
Bally’s takes a controlling step amid Star Entertainment turmoil
In April 2025 Bally’s Corporation agreed a multi-tranche capital injection into Australia’s troubled Star Entertainment Group that could yield a controlling stake, a move analysts say marks U.S. operators’ most direct play yet for Australia’s casino market. The deal — structured as convertible notes and subordinated debt with initial tranches closing early April — came after Star faced liquidity pressure and regulatory scrutiny, prompting shareholders and regulators to weigh outside capital as the company sought to stabilize operations. (reuters.com)
Read the Reuters report on the Bally’s-Star developments
U.S. resort expansions signal confidence in regional markets
Back on U.S. soil, Caesars Entertainment and tribal partner Dry Creek Rancheria broke ground on a redevelopment of River Rock Casino into the Caesars Republic Sonoma County resort, a project announced in August 2025 that will add a 100-room hotel, a luxury spa and more than 1,000 slot machines when it opens in summer 2027. Caesars frames the project as part of a broader push to place higher-end integrated resorts into secondary and leisure-driven markets. (newsroom.caesars.com)
Meanwhile in Las Vegas, Station Casinos’ Durango Casino & Resort is slated for a major north-end expansion this coming January, a $385 million project that will add gaming capacity, entertainment venues and family-oriented amenities, underscoring continued investment in off-Strip properties that target local and regional customers. At the same time, long-running transformation projects on the Strip — most notably the rebrand and redevelopment of the Mirage site into the new Hard Rock Las Vegas — remain in active transition as operators pursue larger casino footprints and new entertainment districts. (press.lvcva.com)
Global resort building and Middle East ambitions
Large U.S.-listed operators are also pressing global growth. Wynn Resorts is advancing its Wynn Al Marjan Island project in Ras Al Khaimah with construction milestones and financing completed by early 2025, signaling continued appetite among Las Vegas incumbents to export their integrated-resort models to emerging tourism hubs. The Al Marjan build — planned with substantial gaming and convention space — is illustrative of a broader trend: operators seeking revenue beyond domestic gaming cycles by investing in international integrated resorts. (en.wikipedia.org)
What this means for workers, regulators and local economies
These moves come as labor and regulatory dynamics remain pivotal. Large construction and redevelopment programs promise jobs and tax revenues for local governments, but they also place renewed emphasis on regulatory approvals, community support and responsible gaming frameworks — factors that earlier in 2025 helped force restructuring discussions and influenced which bids advanced or stalled.
Watch next
Industry watchers should track remaining regulatory approvals and financing milestones for the Bally’s-Star arrangement, construction timetables for Caesars Republic Sonoma County and Strip redevelopment projects, and any further cross-border deals that could accelerate consolidation. Those developments will determine whether 2025 proves to be a turning point toward larger, more geographically diverse land-based casino portfolios or simply a cyclical surge in capital deployment.