The NSW Independent Casino Commission (NICC) has cleared Investment Holdings Pty Ltd for increased shareholding in The Star Entertainment Group (TSEG).
Liquor & Gaming NSW conducted a comprehensive probity investigation on behalf of the NICC, assessing a range of financial and non-financial factors over a twelve-month period.
Under the casino legislation, regulatory approval is required for shareholdings above 10 per cent.
NICC Chief Commissioner Philip Crawford said the report provided the necessary information for the NICC to deem Investment Holdings Pty Ltd and its directors suitable, concluding that there are no impediments to Mr. Bruce Lawrance Mathieson, and Mr. Ross Blair-Holt being associated with the management and operation of a casino.
“Investment Holdings Pty Ltd and its associates underwent a rigorous assessment and ultimately satisfied the criteria for all applicants to be of sound and stable financial background with no adverse findings that would prevent close associate status,” Mr Crawford said.
“Mr. Mathieson and Mr. Blair-Holt have extensive experience within the liquor and gaming sectors, which positions them well for potential direct interactions with TSEG’s management group.
Investment Holdings Pty Ltd currently holds 9.83 per cent of TSEG shares. Investment Holdings requires separate approval in Queensland to meet full regulatory obligations, in both states, for further increases to TSEG shareholdings.
Probity investigations are conducted under the Casino Control Act 1992 and entail scrutiny of ownership structures, assets, trusts and investments, as well as interactions with other regulators and any previous disciplinary outcomes.
Find out more about casino close associates.