(Reuters) – JPMorgan Chase (NYSE:) has ceased to be a shareholder in embattled Australian on line casino operator Star Entertainment, an alternate submitting by the gaming group confirmed on Monday.
The funding banker’s stake in Star Entertainment had mirrored 5.09% of the corporate’s voting energy, in response to the playing group’s alternate submitting on Friday.
Australia’s No.2 on line casino operator has been within the eye of an ideal storm that has hit Australian on line casino operators for years, with Star and Blackstone-owned bigger rival Crown Resorts engulfed by a number of regulatory inquiries in addition to a drop in vacationer visits and prolonged closures.
Star, which has seen its share value fall to multi-year lows, is going through difficult working situations, liquidity considerations and a fall in earnings.
