Bruce Mathieson raises stake in The Star Entertainment Group
The Australian billionaire has become the casino operator’s largest shareholder.
Australia.- The Star Entertainment Group has announced through a company filling that Investment Holdings, a company owned by Australian billionaire Bruce Mathieson, has increased its shareholding in from 6 per cent to 8.21 per cent. The move makes Investment Holdings the casino operator’s largest shareholder.
The move comes as the company faces a second inquiry into its operations at its Sydney casino. Focusing on the casino’s suitability for operation, the inquiry will again be led by Adam Bell SC. It will report on May 31 before the end of the term of the independent manager in June.
Star Entertainment’s shares have fallen by around 83 per cent since 2022. The company reported net revenue of AU$865.7m (US$556m) for the first half of financial year 2024, down 14.6 per cent year-on-year. The Star Sydney revenue was AU$450m (US$2926m), down 16.9 per cent year-on-year. EBITDA was AU$37.4m (US$24.3m), down 57.2 per cent.
