Entertainment <\/p>\n
Star Entertainment’s tumultuous 2025 concluded with a number of executives announcing their departures.<\/strong><\/p>\n Star Entertainment Group\u2019s chief financial officer, Frank Krile, and chief operating officer, Jeannie Mok, are the latest key departures at the embattled Australian casino operator.<\/p>\n Star confirmed to the Australian Securities Exchange<\/a> (ASX) on Monday that Krile had resigned with immediate effect. The operator has commenced the process to appoint a new CFO.<\/p>\n Mok has also resigned and will be leaving her role at the end of January.<\/p>\n The exits come just weeks after Bruce Mathieson Jr was appointed executive chairman before becoming chief executive the following day.<\/p>\n Mathieson succeeded Steve McCann, who departed as CEO and managing director in mid-December after less than two years in the role.<\/p>\n Mathieson\u2019s ratification as CEO and managing director was confirmed in Monday\u2019s announcement, with the company revealing he will earn a basic annual salary of AU$800,000 ($535,000).<\/p>\n The appointment is subject to regulatory and ministerial approvals in New South Wales and Queensland.<\/p>\n Mathieson gave no reason for the departures of Krile and Mok.<\/p>\n \u201cI would like to thank Frank and Jeannie for their significant contribution to the business and particularly their assistance in progressing our remediation plan,\u201d he said. \u201cI wish them both well in their future endeavours.\u201d<\/p>\n The Mathieson family and US-based Bally\u2019s are Star\u2019s largest shareholders, holding stakes of 23% and 38%, respectively, after a takeover was agreed last year<\/a>.<\/p>\n Bally\u2019s Chairman Soo Kim was also installed as Star\u2019s chairman last month.<\/p>\n Star has undergone numerous management reshuffles and cash injections over the past two years as it has struggled to stay afloat.<\/p>\n The operator posted a AU$471.5m loss for the 2025 financial year and reportedly owes lenders about AU$450m. The operator also faces a huge fine of up to AU$400m from AUSTRAC<\/a>, Australia\u2019s financial watchdog, due to alleged anti-money laundering failures.<\/p>\n Civil penalty proceedings against Star and its entities\u00a0commenced in late 2022<\/a>\u00a0after the case was opened in June 2021. In September, Star secured a deal to defer the suspension of its Gold Coast casino licence to 30 September 2026 owing to \u201csteady progress\u201d regarding its remediation efforts.<\/p>\n<\/p><\/div>\nNew CEO confirmed<\/strong><\/h2>\n
Management changes<\/strong><\/h2>\n
Financial challenges<\/strong><\/h2>\n