Steve McCann, group chief executive and managing director of troubled Australian casino firm The Star Entertainment Group Ltd, has left his job. That is according to a Tuesday filing to the Australian Securities Exchange.
Although the change took effect that day, the statement added: “Mr 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.”
The update said Bruce Mathieson Jnr would “take on additional duties” as the group’s executive chair, “while a search for a permanent CEO is conducted”.
Mr McCann had held the CEO job since July last year. He had previously served as group CEO and managing director at rival Australian casino operator Crown Resorts Ltd.
Mr Mathieson had been elected Star Entertainment’s executive chair following a board meeting on November 28 that saw a rejig of the directors.
Shareholders of Star Entertainment approved in June an AUD300.0-million (US$198.9-million) rescue package.
The move saw Australian conglomerate Investment Holdings Pty Ltd – controlled by the Mathieson family – and which has been Star Entertainment’s largest shareholder, subscribe for AUD100 million of the aggregate amount of the rescue package.
The rescue bid also involved United States-based casino group Bally’s Corp. In November the latter passed probity checks in the Australian states of New South Wales and Queensland, where Star Entertainment runs respectively The Star Sydney (pictured) and The Star Brisbane.
Mr Mathieson stated as cited in the Tuesday filing: “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 [Entertainment].
“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.”
Mr McCann was quoted as saying: “The strategic investment by Bally’s Corp 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.”
He added: “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.”
