In a statement, The Star confirmed that the suspension will be in place until further notice and that it would work with regulators to address issues that have arisen from the review.
The business added that due to the impact of Covid-19 on certain operations, the suspension of rebate programs was not expected to have a “material impact” on its full year 2022 results.
In addition, Star announced two new interim executive appointments. Christina Katsibouba has been appointed to the role of interim chief financial officer, while Geoff Hogg will take up the position of interim chief casino officer for New South Wales and Queensland.
These come as part of a “transition phase” following a number of recent resignations. On 6 May Star announced the resignations of chief financial officer Harry Theodore, chief casino officer of New South Wales Greg Hawkins, and chief legal and risk officer and company secretary Paula Martin.
The review of The Star Sydney began in June 2021, and focused on assessing whether The Star was eligible for an operating licence in New South Wales. It has highlighted a number of issues so far, including The Star making “misleading” statements to its bank regarding gambling transactions.
Matt Bekier, CEO and managing director of Star Entertainment Group, resigned from his roles in March 2022 in response to the review.
In April the review was extended by an additional two months. It is now set to end on 31 August 2022.
Original article: https://igamingbusiness.com/the-star-suspends-vip-rebate-programs-as-licence-review-continues/
