- Source: Bruce Mathieson (businessman)
Bruce Mathieson is an Australian businessman, sometimes referred to as a 'billionaire pub baron'. He is known for his influence in the Australian pub, hotel, and gambling sectors.
His net worth is estimated by Forbes at over $1B. 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.
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. 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. As a result of the venture, Woolworths and Mathieson jointly became the largest pokies operators in Australia.
Mathieson partly owns stockbroker Ord Minnett.
In 2023 Mathieson took a 10 per cent stake in the Star Entertainment Group business. 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.
Personal life
Mathieson has multiple children. His son, Bruce Mathieson Jnr has succeeded him as director of Endeavor Group and ALH Group. He has two daughters, who own a significant number of poker machines. 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.
Mathieson was diagnosed with myeloma in 2023.
See also
ALE Property Group