Star Entertainment Group has announced the appointment of Bally’s Corp executive Charlie Diao as its new Group Chief Financial Officer – the latest in a raft of senior executives from Star’s new major shareholder to join the beleaguered casino operator.
Diao currently serves as Senior Vice President, Finance and Corporate Treasurer for Bally’s Corp and is an experienced finance executive with an extensive background in corporate finance, treasury and financial governance, according to information filed with the ASX on Friday.
Star has in recent weeks unveiled former Vice President and General Manager of Bally’s Lake Tahoe, John Koster, as CEO of The Star Sydney, joining Bally’s Chairman Soo Kim and President George Papanier who lead Star’s Board of Directors.
Bally’s Corp and the local Mathieson family late last year acquired a controlling 61% combined stake in Star as part of a rescue package that has saved the company from insolvency.
In Friday’s filing, Star said Diao will report directly to Group CEO & Managing Director, Bruce Mathieson Jnr, and “will play a critical role in supporting the Company’s financial stability, capital strategy and ongoing transformation activities.”
His appointment is subject to the grant of an Australian work visa and the completion of regulatory and ministerial approvals being obtained.
“Charlie brings deep financial expertise and global experience at a pivotal time for The Star,” said Mathirson Jr. “His leadership will be instrumental as we continue to stabilize the business, strengthen our governance settings and position the company for long-term performance.”
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