Billionaire businessman Bruce Mathieson already owns a 9.97 per cent stake in the embattled wagering group, but wants the option of acquiring a larger share, sources said.
Bruce Mathieson requires approval from NSW regulators to lift his stake in StarBruce 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., taking a 9.97 per cent stake as it prepared an extensive turnaround plan.
“The process will see the stakeholder undergo a probity assessment which interrogates their financial background and stability, their business dealings, and their character, among other things,” he said. “The assessment is rigorous, so depending on the particulars of the individual and their affairs, a probity assessment can extend for weeks or months.
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