JP Morgan Takes Stake In Australian Casino Operator Star Entertainment: Details

JP Morgan Chase & Co. (NYSE:JPM) shares are trading higher on Friday. On October 1, 2024, the company became a substantial shareholder in The Star Entertainment Group Limited, acquiring 156.99 million ordinary shares, representing 5.47% voting power.

Star Entertainment is an Australian casino operator. The company has been in troubled waters due to liquidity issues, and shares dipped by 66% in 2023, reported Reuters.

Star Entertainment ...