Pub and pokie machine baron Bruce Mathieson has become the equal largest shareholder in Star Entertainment Group following his acquisition of a 9.97% stake in the company.
Pokie Magnate Bruce Mathieson Becomes Star Group's Largest Shareholder Pokie Magnate Bruce Mathieson Becomes Star Group's Largest ShareholderPokie Magnate Bruce Mathieson Becomes Star Group's Largest Shareholder Pokie Magnate Bruce Mathieson Becomes Star Group's Largest Shareholder (€64 million) for license breaches that included allowing money laundering to take place at its Sydney casino.“I wouldn’t be buying it unless I thought it was good value. I like the assets of the company, I like the industry and I just think it’s something that [as] a long-term holding for my family will be great.”
As a result of those investigations, no individual is allowed to purchase 10% or more of the company’s shares.
Mathieson, who is worth approximately AU$3.7 billion, oversees pokie machine and pub empire Australian Liquor and Hospitality (ALH) jointly with the supermarket chain Woolworths. ALH is the largest pokie machine operator in Australia.
Image credit: llee_wu / CC BY-ND 2.0
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.