The buyers are Chow Tai Fook Enterprises and Far East Consortium, The Star’s two largest shareholders. Mathieson is Star’s largest shareholder with a stake of about 10%, according to the company’s latest annual report. He has an estimated net worth of $1.1 billion according to Forbes’ real-time data. Mathieson runs his poker machine and pub empire, Australian Liquor and Hospitality, in a joint venture with supermarket giant Woolworths. He also holds a minority interest in the publicly listed Endeavour Group, which owns both the Australian Liquor assets and Woolworths’ liquor retailing business. The embattled casino operator has signed a $300 million rescue package with Bally’s Corporation to save the business from administration. Casino operator Star Entertainment has been under financial pressure for some time.
The casino operations of The Star Sydney have been under manager Nicholas Weeks’ control since Oct. 17, 2022, when the New South Wales Independent Casino Commission (NICC) appointed him to govern the gaming floor. Last Friday, NSW’s gaming regulator extended Weeks’ supervision for another six months through Sept. 30, 2025. The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion.