On December 29, 2025, Star Entertainment Group announced leadership changes, with CFO Frank Krile and COO Jeannie Mok stepping down from their positions in January 2026.
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Star shareholders approve $300M Bally’s takeover deal
During the shareholder meeting on June 25, 2025, Star Entertainment‘s shareholders approved a $300 million takeover deal from Bally’s and pub billionaire Bruce Mathieson, giving them control of the company.
Back in March, Star had already received a $250 million investment offer from Bally’s. At that time, the company was running dangerously low on cash and was drowning in debt, with no real plan forward without outside help.
Later, in May, the company set a shareholders’ meeting for June 25, 2025, to vote on a proposed investment package that would help the company recover and rebuild. Before the vote, Star’s Chair Ward urged shareholders to support the plan, admitting the company had been through serious financial struggles and needed this lifeline to survive.
Star Entertainment’s chair, Anne Ward, stated:
“The Star and its advisors have pursued a range of funding options with an increasing degree of urgency over the last 12 months, including asset sales and a variety of recapitalisation proposals. But as the independent expert said, the Star and its advisors have essentially exhausted all options. The strategic investments are the only remaining funding solution available.”
Despite shareholders’ approval, The Star Entertainment’s future remains uncertain. The company is still under heavy financial pressure and faces a possible $400 million fine from AUSTRAC due to serious breaches related to money laundering.
Just 24 hours after Steve McCann left the CEO position, the Star Entertainment Group appointed Bruce Mathieson Jr. as the new CEO.Additionally, Soo Kim, a Bally’s...
