Bruce Mathieson (businessman) explained

Bruce Mathieson
Birth Place:Cobden, Victoria, Australia

Bruce Mathieson is an Australian businessman, sometimes referred to as a 'billionaire pub baron'.[1] He is known for his influence in the Australian pub, hotel, and gambling sectors.[2] [3] [4]

His net worth is estimated by Forbes at over $1B.[5] He was born in Cobden, Victoria.

As of 2022, Mathieson and his family collectively own 45% of all poker machines in the state of Victoria.[6]

He reportedly owns 15% of Endeavour Group, a Woolworths joint venture that owns 340 pubs as well as the Dan Murphy's and BWS liquor chains.[7] In 2022 he retired from directing that group, being replaced by his son Bruce Mathieson Jnr.

Career

Mathieson purchased his first hotel in the mid-1970s, and expanded his portfolio under the Bruce Mathieson Group. By year 2000 he was operating 35 venues in Victoria.

In 2000 he negotiated a joint venture with Woolworths. This venture purchased ALH Group in 2004 for $1.4b. Many of the venues owned by ALH Group controversially operate poker machines.[8] [9] As a result of the venture, Woolworths and Mathieson jointly became the largest pokies operators in Australia.

Mathieson partly owns stockbroker Ord Minnett.[10]

In 2023 Mathieson took a 10 per cent stake in the Star Entertainment Group business.[11] [12] His stake fell to 6.35 per cent after a September 2023 equity raise. Mathieson purchased about $3 million of Star shares in October 2023. Mathieson increased his stake in Star to 8.21 per cent in February 2024.[13]

Personal life

Mathieson has multiple children. His son, Bruce Mathieson Jnr has succeeded him as director of Endeavor Group and ALH Group.[14] [15] He has two daughters, who own a significant number of poker machines.[16] Due to his family members ostensibly owning the poker machines independently, their ownership does not exceed the 35% cap on state-wide poker machine ownership.[17]

See also

Notes and References

  1. Web site: Knight . Elizabeth . 2023-03-01 . Why this billionaire pub baron raided Star casino shares . 2023-06-17 . The Sydney Morning Herald . en.
  2. Web site: Stacey . Luke . 2021-01-10 . Bruce Mathieson . 2023-06-17 . Michael West . en-US.
  3. Web site: Mayne . Stephen . 2023-03-01 . Inside the Mathieson family's latest pokies play . 2023-06-17 . Crikey . en-US.
  4. Web site: Way . Nicholas . 2005-08-04 . Rough and ready . subscription . 2023-06-17 . Australian Financial Review . en.
  5. Web site: Bruce Mathieson . 2023-06-17 . Forbes . en.
  6. Web site: Brook . Stephen . 2022-09-17 . How one family is buying up thousands of hotel poker machines . 2023-06-17 . The Age . en.
  7. Web site: Brook . Stephen . 2022-09-17 . How one family is buying up thousands of hotel poker machines . 2023-06-17 . The Age . en.
  8. Web site: Brook . Stephen . 2022-09-17 . How one family is buying up thousands of hotel poker machines . 2023-06-17 . The Age . en.
  9. Web site: Mayne . Stephen . 2023-03-01 . Inside the Mathieson family's latest pokies play . 2023-06-17 . Crikey . en-US.
  10. Web site: Thompson . Sarah . Sood . Kanika . Rapaport . Emma . 2023-10-15 . Bruce Mathieson back shopping for Star Entertainment shares . subscription . 2023-10-15 . Australian Financial Review . en.
  11. Web site: Knight . Elizabeth . 2023-03-01 . Why this billionaire pub baron raided Star casino shares . 2023-06-17 . The Sydney Morning Herald . en.
  12. Web site: 2023-03-03 . Aussie pub and poker machine baron becomes Star Entertainment Group's largest shareholder . 2023-06-17 . IAG . en-US.
  13. News: Carter . Bridget . 26 February 2024 . Bruce Mathieson lifts stake in struggling Star Entertainment . subscription . 4 March 2024 . The Australian.
  14. Web site: Foote . Callum . 2022-12-23 . Pub billionaire's Endeavour sails into Captain Cook storm . 2023-06-17 . Michael West . en-US.
  15. Web site: 2022-06-24 . Last drinks for Rich Lister Bruce Mathieson snr at Endeavour . 2023-06-17 . Australian Financial Review . en.
  16. Web site: Mayne . Stephen . 2023-03-01 . Inside the Mathieson family's latest pokies play . 2023-06-17 . Crikey . en-US.
  17. Web site: Brook . Stephen . 2022-09-17 . How one family is buying up thousands of hotel poker machines . 2023-06-17 . The Age . en.

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