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Macau-based investor is second-biggest holder of struggling Star Entertainment

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A Macau-based individual has become the second-biggest shareholder in casino operator Star Entertainment by building a stake of more than 5.5% in the embattled Australian company, a stock exchange filing showed on Monday.
The article from Reuters discusses how a Macau-based investor, known as the "King of Junkets," has become the second-largest shareholder in Star Entertainment, an Australian casino operator facing financial difficulties. This investor, through his company, holds a 9.99% stake in Star Entertainment, which has been dealing with regulatory scrutiny and financial losses. The investment comes at a time when Star Entertainment is attempting to recover from a series of scandals and operational setbacks, including a significant fine from the New South Wales casino regulator for breaches of anti-money laundering and counter-terrorism financing laws. The involvement of this high-profile investor, who has a history in the gambling industry, might signal a strategic move to influence or stabilize the company's future, amidst its ongoing challenges.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/macau-based-investor-is-second-biggest-holder-struggling-star-entertainment-2025-01-13/ ]