Sydney Casino CEO and new CFO approved by Star Entertainment
The Star Entertainment Group Ltd. announces regulatory approval for two key leadership positions.Mr. Neale O'Connell has been appointed as the acting CFO of The star on...
Queensland extends The Star’s casino license suspension
Queensland’s government has chosen to prolong the suspension of casino permits for The Star Gold Coast and Treasury Brisbane until the 20th of December.
The original plan was for this suspension to come to an end on May 31st but the postponement was to enable the government to examine the results of an inquiry into The Star’s practices in New South Wales called The Second Bell Inquiry for a longer period.
Despite the suspension, the court appointed a Special Manager who is overseeing operations in these casinos, which will be done a bit earlier on December 8th. The Star’s operations in other territories have not been affected by the current closure but only those in Queensland.
At the same time, The Star is actively participating in the Second Bell Inquiry in New South Wales, thereby showing the company continues to face litigations in its attempt to rectify its governance.
There have been some significant changes in The Star’s executive team as a result of these inquiries with the departure among others of the group’s top leaders such as Chairman & Chief Executive Officer (CEO) who were recently replaced. These vast modifications form part of a more extensive overhaul meant to enhance corporate culture and governance at the corporation.
The Star is putting a lot of effort into proving that it has undergone compliance and change in order to keep its casino licenses in Queensland and New South Wales, as these investigations have been initiated by significant misconduct claims.
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The Star expects a Q4 revenue drop
According to The Star, group revenue for Q4 is expected to fall 3.3% year on year to a maximum of AU$1.69 billion, with Neale O'Connell as the new interim CEO.The...
