Star Entertainment has published its Q1 2026 results, showing a 12% decline in quarterly revenue from $301 million to $226 million.At the same time, EBITDA loss decreased...
ASIC to impose $1.3M fine on ex-Star CEO Matt Bekier
The Australian Securities and Investments Commission (ASIC) has taken former Star Entertainment CEO Matt Bekier to the Federal Court, seeking to ban him from managing any company for 8 years and impose a $1.3 million fine.
The lawsuit was filed on May 27, with ASIC explaining to Justice Michael Lee that Bekier didn’t show any remorse or understanding of his guilt after the court ruled that the former star CEO and lawyer broke the law in early March 2026.
Justice Lee commented:
“He’s a man who presents himself today where he obviously thinks he’s done nothing wrong. If successful on appeal, the penalty will be set aside, but the fact is I’m imposing a pecuniary penalty on the basis that that is a fact, and Mr Bekier refuses to have any insight, contribution, remorse or acceptance of that fact.”
In response, Bekier’s team argued that it would be fairer to impose an 18-month ban, with counsel Justin Williams noting that the company didn’t suffer any financial losses because of the violations.
Justice Lee added:
“He’s a man with his beliefs, and that’s perfectly fine. I’m not being critical of him; he’s absolutely perfectly entitled to appeal, and he may well be successful. But I’ve got to work out, given that state of belief, what is necessary in order to achieve specific deterrence. I just don’t understand why that’s a wrong analysis.”
As part of the enforcement action against the company, Star Entertainment reached its own settlement with ASIC back in 2023 and paid a $150 million fine based on anti-money laundering breaches.
The Star Entertainment Group has announced the appointment of David Schollenberger as the company’s new Chief Risk Officer (CRO) on April 13, 2026.Prior to the new...
