Star Entertainment Group
(ASX:SGR) holder Genting Hong Kong Limited has attained the necessary approvals to increase their aggregate potential voting power.
The Queensland Attorney General and Minister for Justice and the Governor in Council have granted approval for Genting to increase their aggregate potential voting power in the group from 10 percent to a maximum of 24.99 percent.
The NSW Liquor and Gaming Authority had already given approval for an increase to 23 percent in September of this year.
The regulatory approvals override the general shareholder restriction in the Star Entertainment Group’s constitution that a person’s voting power must not exceed 10 percent without written consent of both the NSW Independent Liquor and Gaming Authority and the Queensland minister.
Star Entertainment Group recorded a net profit of $169.3 million at 30 June 2015.
