There was some big news announced that JPMorgan Chase & Co and its affiliates are no longer substantial shareholders in the Star Entertainment Group.
Star said it learned on the 10th September 2025 that JPMorgan’s stake had dropped below the amount required in shareholders’ rules which was filed to the Australian Securities Exchange.
The Shareholding Rules
The agreement with regulators in New South Wales and Queensland prevents any single shareholder from controlling more than 10% of a company’s voting power. If it is breached then a company (Star) can block share transfers or force a sell down for which investors in the business have been reminded.
Challenges for Star
Star continues to face regulatory pressures alongside financial and restructuring whilst the change of ownership happens. This includes:
- Annual revenue fell 29.2% to AU$1.19bn ($780m) last year.
- Their losses were minimised through asset sales and an investment deal with Bally’s Corporation.
- Earlier terms were rejected but talks are ongoing with lenders over covenant waivers under its Senior Facility Agreement.
- Leaving its Destination Brisbane Consortium joint venture and consolidating ownership of key Gold Coast Assets are included in the restructuring.
Star has publicly said the external shareholders forthcoming support will be paramount to stabilise its business and also cement its long term recovery.