Why it matters: the casino operator is in the midst of a difficult turnaround
Bruce Mathieson requires approval from NSW regulators to lift his stake in Star
He is one of the country’s most successful operators of pubs and hotels
Bruce Mathieson, the billionaire businessman who made his fortune in pubs, has formally asked the NSW casino regulator for permission to increase his stake in Star Entertainment, a clear signal of his long-term ambitions to gain a larger holding in the embattled wagering group.
Mr Mathieson emerged as an investor in the struggling casino operator in February, taking a 9.97 per cent stake as it prepared an extensive turnaround plan. A person familiar with Mr Mathieson’s plans said he wrote to the Independent Casino Commission, the regulator, shortly after acquiring that stake to ask for permission to lift his holding.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
