JPMorgan Chase ceases to be substantial shareholder in Star Entertainment
The notification was made to the Australian Securities Exchange in accordance with ASX Listing Rule 3.19.
Key points:
– JPMorgan Chase and affiliates no longer hold a substantial interest in Star
– Star’s constitution restricts individual shareholders from exceeding 10% voting power
– The development comes amid ongoing financial, regulatory and restructuring challenges
The Star Entertainment Group has confirmed that JPMorgan Chase & Co. and its affiliates are no longer substantial shareholders in the company.
In a notice to the Australian Securities Exchange (ASX), Star said it became aware on 10 September 2025 that JPMorgan had reduced its holding below the threshold that requires substantial shareholder disclosure.
The announcement was made under ASX Listing Rule 3.19.
The company highlighted that its constitution, along with agreements with Liquor and Gaming New South Wales and the Queensland Office of Liquor and Gaming Regulation, prohibits any individual shareholder from holding more than 10% of its voting power.
Star has the right to refuse the registration of share transfers that would exceed this threshold or to require divestment if a breach occurs.
The change in shareholding comes during a period of ongoing financial and regulatory challenges for Star.
Last month, the group reported a 29.2% fall in annual revenue to AU$1.19bn ($780m), with losses narrowing significantly due to asset sales and an investment agreement with Bally’s Corporation.
The company is also in discussions with lenders regarding covenant waivers under its Senior Facility Agreement, after rejecting earlier terms as unacceptable.
Star continues to implement restructuring measures, including exiting its joint venture interest in Destination Brisbane Consortium and consolidating ownership of key Gold Coast assets.
The group maintains that external stakeholder support will be critical to stabilising its operations and securing long-term viability.
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