In another update for The Star Entertainment Group, JPMorgan Chase has now acquired a 5.66% stake in the business.
This percentage represents the investment banker’s new voting power within the company, with the news being shared through an ASX Announcement and notification of substantial shareholding.
“As required under Listing Rule 3.19, The Star Entertainment Group Limited (the Company) gives notice that it has become aware that JPMorgan Chase & Co. and its affiliates became a substantial shareholder of the Company on 1 August 2025, with relevant interests held totalling 162,330,539 ordinary shares, representing 5.66% of the voting power in the Company,” the notification reads.
JPMorgan Chase & Co and Star Entertainment Group timeline
This comes after it was announced back in December of 2024 that JPMorgan Chase had ceased to be a shareholder in Star Entertainment, with an exchange filing sharing the details.
The company had a 5.09% stake in the Australian company before withdrawing it. Just a month later, though, in January 2025, it was announced through a filing that the powerhouse JPMorgan Chase & Co were increasing their shares.
The reason behind the newest change is not yet known, but it does come at a time of continued uncertainty for the gambling and entertainment company.
The last couple of years have thrown the brand many troubles, with it announcing the end of an agreement with its joint venture partners earlier this month.
Although this week (August 6), the New South Wales government extended the company a small lifeline. Rather than introduce its $1000 AUD ($650.49) gaming limit on August 19, it will postpone it until August 19, 2027. This means the $5000 limit will remain in place, which could provide some relief for the casino brand.
This came after Star and Crown Sydney wrote to officials to request the delay. According to reports, Star needed the delay to refit its machines to match the incoming limitation. With two years on the clock, it can now tend to its 1,500 machines.
Featured Image: Credit to Ben Sutherland on Flickr, Attribution 2.0 Generic license
The post JPMorgan Chase acquires stake in Star Entertainment, filing shows appeared first on ReadWrite.