(Updates with details and background from paragraph 2)
May 23 (Reuters) - Australian asset manager Perpetual (PPT) has increased its stake in embattled casino operator Star Entertainment (SGR) , an exchange filing showed on Thursday.
Perpetual has increased its stake to 8.81% from 7.402%, the filing showed.
The embattled Australian company's shares have been volatile recently, jumping after its top shareholder, billionaire Bruce Mathieson, increased his stake in the firm to 9.59% from 8.21% on April 18.
Star closed 20% higher on Monday after it said a consortium that includes a local partner of Florida-based Hard Rock International is considering a bid for the cash-strapped Australian firm.
However, shares of the casino operator fell the next day after the U.S.-based entertainment giant denied any involvement in a takeover bid for the firm.
Star's shares have dropped 6.8% year-to-date. Star Entertainment has been undergoing regulatory inquiries to keep its gaming licence at its Sydney casino, with the final report due on July 31.
The firm had undergone management changes earlier this year. Perpetual had said in early May that it is to become a standalone, global multi-boutique asset management business as global investment firm KKR & Co KKR.N is buying out its wealth management units.
News: PPT UPDATE 1-Asset manager Perpetual raises stake in casino operator Star
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Last
$19.84 |
Change
-0.090(0.45%) |
Mkt cap ! $2.275B | |||
| Open | High | Low | Value | Volume |
| $19.97 | $20.10 | $19.71 | $4.073M | 205.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1100 | $19.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.87 | 616 | 2 |
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| Last trade - 16.10pm 08/09/2025 (20 minute delay) ? |
| PPT (ASX) Chart |