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PerplexityJP 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 owns and operates The Star Sydney, The Star Gold Coast and Treasury Brisbane. It also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government. This week, JP Morgan expanded its Canadian business by launching two active ETFs on the Toronto Stock Exchange. The new ETFs target income-focused Canadian investors, offering capital appreciation and steady income. Along with this, JP Morgan planned to expand its asset management business in Canada, expecting to add up to 20 jobs over the next 18 months. Investors can gain access to the stock via iShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF). Price Action: JPM shares are up 1.73% at $208.78 at the last check Friday. Photo by Katherine Welles on Shutterstock Read Next: OpenAI Secures $4B Credit Line To Supercharge AI Ambitions And Expand Nvidia-Powered Infrastructure: ‘Provides Flexibility To Seize Future Growth Opportunities’ Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article JP Morgan Takes Stake In Australian Casino Operator Star Entertainment: Details originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
JP Morgan Takes Stake In Australian Casino Operator Star Entertainment: Details
04 October 2024 06:58 AM PDT
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