{"id":777016813,"date":"2024-06-28T09:37:27","date_gmt":"2024-06-28T12:37:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777016813"},"modified":"2026-04-22T08:39:11","modified_gmt":"2026-04-22T11:39:11","slug":"nicc-approves-investment-holdings-to-increase-stake-in-the-star","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/nicc-approves-investment-holdings-to-increase-stake-in-the-star","title":{"rendered":"NICC approves Investment Holdings to increase stake in The Star"},"content":{"rendered":"\n

Investment Holdings currently holds 9.83 per cent of The Star Entertainment Group shares.<\/p>\n\n\n\n\n\n\n\n

Australia.- Investment Holdings, a company owned by Australian billionaire Bruce Mathieson<\/strong>, has been given approval by the NSW Independent Casino Commission (NICC) to increase its stake in The Star Entertainment Group. Currently, Investment Holdings holds 9.83 per cent of shares. It still needs to obtain approval in Queensland before increasing its stake.<\/p>\n\n\n\n

According to New South Wales casino regulations, stakes exceeding 10 per cent require regulatory authorisation<\/strong>. Liquor & Gaming NSW, acting on behalf of the NICC, considered various financial and non-financial aspects. <\/p>\n\n\n\n

NICC chief commissioner Philip Crawford<\/strong> said the report supplied the necessary data for the NICC to judge Investment Holdings and its executives as suitable and confirmed that there are no barriers to Bruce Lawrance Mathieson and Ross Blair-Holt being involved in the management and operation of a casino.<\/p>\n\n\n\n

Crawford said: “Investment Holdings Pty Ltd and its associates underwent a rigorous assessment and ultimately satisfied the criteria for all applicants to be of sound and stable financial background with no adverse findings that would prevent close associate status.<\/p>\n\n\n\n

\u201cMr. Mathieson and Mr. Blair-Holt have extensive experience within the liquor and gaming sectors, which positions them well for potential direct interactions with TSEG\u2019s management group.”<\/p>\n\n\n\n

The Star Entertainment Group expects Q4 revenue to be down 3.3%<\/h2>\n\n\n\n

The Star Entertainment Group<\/strong> expects revenue for the fourth quarter of the year to be between\u00a0AU$1.67bn (US$1.11bn) and AU$1.68bn (US$1.12bn)<\/strong>. That would be down 3.3 per cent in year-on-year terms and\u00a0down 4.3 per cent sequentially<\/a>.<\/p>\n\n\n\n

Normalised group EBITDA for the financial year is expected to be between AU$165m (US$110m) and AU$180m (US$120m). Revenue from premium gaming rooms (PGR) is also expected to be down 16.5 per cent across the group.<\/p>\n\n\n\n

See also: <\/strong>The Star appoints Steve McCann as CEO and managing director<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investment Holdings currently holds 9.83 per cent of The Star Entertainment Group shares.<\/p>\n","protected":false},"author":176,"featured_media":777015964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Investment Holdings, owned by Bruce Mathieson, has secured NSW regulatory approval to increase its stake in The Star Entertainment Group beyond 10%, pending Queensland authorization. This development coincides with The Star's forecast of a 3.3% Q4 revenue decline and reduced full-year EBITDA, alongside a significant drop in premium gaming room revenue.","focusai_entities":"Investment Holdings, Bruce Mathieson, The Star Entertainment Group, NSW Independent Casino Commission (NICC), Liquor & Gaming NSW, Philip Crawford, Ross Blair-Holt, Steve McCann","focusai_location":"Australia, New South Wales, Queensland","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Queensland Approval Impact","query":"What specific regulatory criteria in Queensland must Investment Holdings satisfy to secure approval for an increased stake, and what is the projected timeline for this decision?"},{"label":"Star's Financial Outlook","query":"Given the projected Q4 revenue and full-year EBITDA decline, what strategic initiatives is The Star Entertainment Group implementing to mitigate adverse market conditions and improve premium gaming room performance?"}],"footnotes":""},"categories":[16336,156,158],"tags":[],"class_list":["post-777016813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","category-slider-home"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777016813"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016813\/revisions"}],"predecessor-version":[{"id":777016847,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016813\/revisions\/777016847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777015964"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777016813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777016813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777016813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}