(Reuters) – JPMorgan Chase (NYSE:) has ceased to be a shareholder in troubled Australian on line casino operator Star Leisure, a buying and selling submitting from the gaming group confirmed on Monday.
The funding banker’s stake in Star Leisure represented 5.09% of the corporate’s voting rights, in response to the playing group’s buying and selling submitting launched Friday.
Australia’s No. 2 on line casino operator is within the eye of an ideal storm that has battered Australian on line casino operators for years, with Crown Resorts, its greatest rival owned by Star and Blackstone, swallowed up by a number of regulatory investigations in addition to a drop in vacationer visits and prolonged closures. .
Star, which has seen its share value fall to its lowest stage in a number of years, is going through tough working circumstances, liquidity issues and falling income.
#JPMorgan #leaves #Star #Leisure #Australia #Reuters , #Gossip247
,
