JPMorgan Chase has ceased to be a substantial shareholder in Star Entertainment Group Limited, according to a filing with the Australian Securities Exchange (ASX).
The bank's interest in the Australian casino operator has fallen below the threshold that classifies it as a substantial holder.
The change in shareholding reflects JPMorgan's recent transactions, which include sales and transfers of shares. As a result, the bank no longer holds a stake sufficient to meet the 5% substantial shareholder reporting requirement under Australian regulations.
Star Entertainment confirmed the change in its share registry, noting that JPMorgan's holding adjustments took effect recently. The ASX filing provides the official record of the reduction in the bank's ownership and ensures transparency for the market regarding the company's major shareholders.
JPMorgan had previously been listed as a substantial shareholder, with a holding above the 5% reporting threshold. Its exit from this status does not necessarily indicate a sale of all shares, but rather a reduction that places its stake below the reporting requirement.
The announcement is part of ongoing shareholder movements in Star Entertainment, which has seen several changes among its major investors over recent periods. Market participants and analysts will likely monitor the development for its potential implications on corporate governance and shareholder voting at the company.
Star Entertainment's management did not provide further comment on JPMorgan's change in holding beyond the required disclosure to the ASX. The company continues to maintain its operations and reporting obligations under Australian securities law.
Star Entertainment reported 12-month revenue of AU$1.19bn ($792m) to June 30, 2025, with net loss reduced to AU$472m following the Bally's bailout
