Steve McCann, the man brought in to keep Star Entertainment Group afloat following a second finding of unsuitability to hold a NSW casino license, has departed the company with immediate effect.
Star said in a Tuesday morning filing that McCann would cease in his role as Group CEO and Managing Director, effective from 16 December 2025.
Bruce Mathieson Jr, the recently appointed Chairman of the Board of Directors, will take on additional duties as Executive Chair while a search for a permanent CEO is conducted.
However, Star noted that McCann has agreed to remain available to assist the company through a handover period in relation to government and regulator interaction until 8 July 2026.
“On behalf of the Board, I want to thank Steve for his strong leadership and hard work during one of the most complex and challenging periods for The Star,” said Mathieson Jnr.
“Steve joined at a time of crisis for The Star and has helped to deliver a critical financial reset for the business and successfully progressed our Remediation Plan, which have laid the foundations for The Star’s long-term future success. We wish him well in his next endeavours.”
McCann added, “The strategic investment by Bally’s Corporation and Investment Holdings Pty Ltd provides an opportunity for The Star to move in a new direction and pursue a pathway to recovery and future growth. Now is the right time for new leadership to be put in place with the experience and passion to build on that momentum and take The Star forward.
“I want to thank our 8,000-strong workforce for their commitment and resilience throughout a challenging period. Their dedication has been central to safeguarding the business and positioning it for its next chapter.”
McCann’s departure comes after Bally’s and Investment Holdings were recently granted probity approval to complete a combined AU$300 million investment into Star that gives them a controlling 61% joint stake, of which Bally’s holds 38%.
Bally’s chair Soo Kim and President George Papanier were earlier this month appointed to the board with former chair Anne Ward among a handful of directors to stand down.
RelatedPosts
