After regulatory and shareholder approvals, the stake goes up to 23.16 per cent. The Star Entertainment Group has verified that the interests of one of its major shareholders have changed substantially following Investment Holdings Pty Ltd, as a trustee to the BMG Discretionary Trust, having risen to an interest in excess of 1.53bn of its ordinary stock. The disclosure in the company revealed that Star realised on 28 November 2025 that Investment Holdings and Bruce Lawrance Mathieson had taken their hold in 275m shares and 1,537,154,955 shares respectively. The diluted position has now constituted 23.16 per cent of the voting rights within the company.

The constitution of Star Entertainment normally limits a single party to above 10 per cent of voting rights, which is also contained in contracts with Liquor and Gaming NSW, and the Queensland office of Liquor and Gaming Regulation (OLGR). The provisions are aimed at restricting concentrated ownership in the company so that the board can reject registration of transfer which will exceed the cap or force divestment where necessary.

Regulators Green-Light Stake Increase in Investment Holdings in Star Entertainment

Nevertheless, Investment Holdings was granted certain authorisations to cross the 10 per cent limit by both regulators. Moreover, Star shareholders also voted during a general meeting on 25 June 2025 to allow the group to acquire up to 37.33% of the company shares. The exemption to this approval gives a relaxation of restrictions in the Corporations Act 2001, whereby most parties are not allowed to have over 20 per cent of the overall voting power; otherwise, the company would go into a takeover.

Star Entertainment said that the increment in shareholding is registered as per the rule of Listing Reg. 3.19 and within the confines of all the regulatory and shareholder approvals. It is necessary to update the market on the significant changes in the ownership structure of the company as the group persists in the larger organisational compliance and restructuring processes.