Bruce Mathieson (businessman)
Bruce Mathieson | |
|---|---|
| Born | 1943 or 1944 (age 79–80) 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.[4]
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.[7]
Career[edit]
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.[2]
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.[2][4]
Mathieson partly owns stockbroker Ord Minnett.[10]
In 2023 Mathieson took a 10 per cent stake in the Star Entertainment Group business.[11][12][3] 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.[10] Mathieson increased his stake in Star to 8.21 per cent in February 2024.[13]
Personal life[edit]
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][16]
See also[edit]
References[edit]
- ^ Knight, Elizabeth (2023-03-01). "Why this billionaire pub baron raided Star casino shares". The Sydney Morning Herald. Retrieved 2023-06-17.
- ^ a b c Stacey, Luke (2021-01-10). "Bruce Mathieson". Michael West. Retrieved 2023-06-17.
- ^ a b Mayne, Stephen (2023-03-01). "Inside the Mathieson family's latest pokies play". Crikey. Retrieved 2023-06-17.
- ^ a b c Way, Nicholas (2005-08-04). "Rough and ready". Australian Financial Review. Retrieved 2023-06-17.
- ^ "Bruce Mathieson". Forbes. Retrieved 2023-06-17.
- ^ Brook, Stephen (2022-09-17). "How one family is buying up thousands of hotel poker machines". The Age. Retrieved 2023-06-17.
- ^ a b Brook, Stephen (2022-09-17). "How one family is buying up thousands of hotel poker machines". The Age. Retrieved 2023-06-17.
- ^ Brook, Stephen (2022-09-17). "How one family is buying up thousands of hotel poker machines". The Age. Retrieved 2023-06-17.
- ^ Mayne, Stephen (2023-03-01). "Inside the Mathieson family's latest pokies play". Crikey. Retrieved 2023-06-17.
- ^ a b Thompson, Sarah; Sood, Kanika; Rapaport, Emma (2023-10-15). "Bruce Mathieson back shopping for Star Entertainment shares". Australian Financial Review. Retrieved 2023-10-15.
- ^ Knight, Elizabeth (2023-03-01). "Why this billionaire pub baron raided Star casino shares". The Sydney Morning Herald. Retrieved 2023-06-17.
- ^ "Aussie pub and poker machine baron becomes Star Entertainment Group's largest shareholder". IAG. 2023-03-03. Retrieved 2023-06-17.
- ^ Carter, Bridget (26 February 2024). "Bruce Mathieson lifts stake in struggling Star Entertainment". The Australian. Retrieved 4 March 2024.
- ^ Foote, Callum (2022-12-23). "Pub billionaire's Endeavour sails into Captain Cook storm". Michael West. Retrieved 2023-06-17.
- ^ "Last drinks for Rich Lister Bruce Mathieson snr at Endeavour". Australian Financial Review. 2022-06-24. Retrieved 2023-06-17.
- ^ a b Mayne, Stephen (2023-03-01). "Inside the Mathieson family's latest pokies play". Crikey. Retrieved 2023-06-17.
- ^ Brook, Stephen (2022-09-17). "How one family is buying up thousands of hotel poker machines". The Age. Retrieved 2023-06-17.