Troubled Star Entertainment Group has announced the appointment of Bruce Mathieson Jr – the son of Australian pub baron and Star’s largest shareholder Bruce Mathieson – as a non-executive director of the company, subject to regulatory approvals.
Mathieson Jr, currently director and CEO of Bruce Mathieson Group, will join the board as a nominee of Investment Holdings Pty Ltd, which holds a 9.83% stake in Star. Investment Holdings has also invested AU$100 million into Star as part of a joint AU$300 million rescue package alongside Bally’s Corp, and could see its Star interest rise to around 23% once that package is fully approved and associated notes converted.
Mathieson Jnr will act as an observer to the board pending all regulatory and ministerial approvals, Star explained, commencing from 1 September 2025.
“I am delighted to join the board of The Star at such an important time in the transformation of the business,” Mathieson Jr said.
“I share The Star’s commitment to the progress of the remediation plan, working closely with regulators and governments to help position it for a sustainable future for all stakeholders including shareholders.
“The Star makes an important contribution to the employment and investment economies in Queensland and New South Wales and plays a key role in the tourism, hospitality and entertainment industries in each State, all of which I have a long involvement in and am passionate about.”
Star’s Chairman, Anne Ward, added, “I am pleased to welcome Bruce Mathieson Jnr to the Board of The Star.
Bruce brings extensive experience in the hospitality and gaming sectors and as a nominee of our largest shareholder his appointment reflects Investment Holdings’ ongoing commitment to supporting The Star’s strategic direction and governance.
“We look forward to his contribution as we continue to navigate the Company’s transformation.”
Shareholders approved the rescue package from Star and Bally’s in June although the NSW Independent Casino Commission (NICC) has yet to give the deal the green light.
Star on Friday released its FY25 financial results, which saw the company fall to an AU$471.5 million (US$308 million) loss. The company said its poor performance reflected challenging trading conditions due to regulatory reforms including mandatory carded play and cash limits at The Star Sydney, plus implementation of its remediation program and loss of market share.
RelatedPosts
