Bruce Mathieson requests approval to increase stake in Star Entertainment
Mathieson has applied for regulatory approval from the New South Wales casino regulator
Australia.- The entrepreneur Bruce Mathieson has submitted an application to the New South Wales casino regulator to increase his shareholding in the Star Entertainment Group. Under the regulations governing casino licensees in the state, any investor’s ownership exceeding 10 per cent needs regulatory approval.
A regulator spokesperson told The Australian Financial Review that “a probity assessment can extend for weeks or months.” According to The Financial Review Rich List, Mathieson is one of the wealthiest people in Australia with a fortune of AU$2.13bn. He acquired nearly 10 per cent of Star Entertainment for AU$141.7m in February amid challenges for the casino operator, including regulatory scrutiny, class actions and the impact of the Covid-19 pandemic.
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