Billionaire Mathieson ups stake in Australian casino operator Star Entertainment

Reuters

Published Mar 20, 2024 12:48AM ET

(Reuters) - A firm owned by Australian billionaire Bruce Mathieson has increased its stake in casino operator Star Entertainment to 8.21% from 6%, an exchange filing showed on Wednesday.

Following the stake increase, Mathieson's Investment Holdings Pty is the largest shareholder in the casino operator.

The development comes at a time when Star Entertainment is facing a second inquiry into its Sydney casino operations after the company's license to operate the casino was suspended in October 2022.