In a bold move that is set to shake up the Australian gambling industry, the casino regulator has given the green light for billionaire businessman Bruce Mathieson to increase his stake in the Star Entertainment Group.
Mathieson, who already owns a significant portion of the company, has been granted approval by the Australian Securities and Investments Commission (ASIC) to acquire up to 10% of the Star’s shares, which would make him one of the largest shareholders in the company.
This decision comes after months of speculation and intense scrutiny from regulators and industry experts, who have been closely monitoring Mathieson’s intentions to grow his stake in the Star.
The move signals a new era of consolidation in the Australian casino industry, as Mathieson’s increased stake could potentially pave the way for a full takeover bid for the Star Entertainment Group.
Industry insiders have hailed the decision as a significant development that could have far-reaching implications for the gambling sector in Australia.
Mathieson, who made his fortune through a successful chain of hotels and pokies venues, is no stranger to the gambling industry. His deep pockets and business acumen have made him a formidable force in the market, and his push to acquire more of the Star’s shares has been closely watched by competitors and investors alike.
In a statement released after the ASIC decision, Mathieson expressed his excitement about the opportunity to increase his stake in the Star Entertainment Group.
“I believe that the Star has tremendous potential for growth and I am confident that by increasing my investment in the company, we can work together to unlock that potential and create value for shareholders,” Mathieson said.
The news has been met with a mixed reaction from industry players, with some expressing concern about the concentration of power in the hands of one individual, while others see it as a positive sign of confidence in the future of the Star Entertainment Group.
As Mathieson moves forward with his plans to acquire more of the Star’s shares, all eyes will be on how this development will impact the company’s strategy, operations, and shareholder value.
For now, the casino regulator’s decision has cleared the way for Bruce Mathieson to wield even more influence in the Australian gambling industry, marking a significant shift in the landscape of the sector.