The Star Casino. Source: The Star Entertainment Group
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • The Star Entertainment Group (SGR) appoints Geoff Hogg and Ben Heap as acting CEO and interim Chairman, respectively, following the resignation of John O’Neill as Executive Chairman
  • Mr O’Neill was appointed to Executive Chairman on an interim basis following the resignation of then-Managing Director and CEO Matt Bekier
  • Having spent just under eight weeks at his post, he will stand down on May 31 and is currently transitioning his Chair and executive responsibilities
  • Remuneration arrangements for Mr Hogg, who is currently the interim Chief Casino Officer for New South West and Queensland, will be announced prior to him starting as Acting CEO
  • Shares in The Star Entertainment Group were up 0.32 per cent to $3.12 at the close of trading on Monday

The Star Entertainment Group (SGR) has appointed Geoff Hogg and Ben Heap as acting CEO and interim Chairman, respectively, following the resignation of John O’Neill as Executive Chairman.

Mr O’Neill was appointed Executive Chairman on an interim basis at the start of April, following the resignation of then-Managing Director and CEO Matt Bekier.

Having spent just under eight weeks at his post, he will formally stand down on May 31 and is currently transitioning his Chair and executive responsibilities.

The company had found itself in hot water after the Australian Transaction Reports and Analysis Centre (AUSTRAC) launched a probe into Star’s casino in Sydney amid concerns over ongoing customer due diligence and compliance with laws in June last year.

The inquiry examined allegations that Star ignored the criminal links and likely money laundering activities of its major “junket” high-roller tour partners.

Since then, Star has been hit with multiple class action lawsuits for a variety of reasons, including its failure to comply with disclosure requirements amid a public inquiry into its casino operations in Sydney.

Star also faced a class action lawsuit from its shareholders last October and it was alleged that the company had mismanaged money laundering and counter-terrorism financing risks.

A search for a permanent CEO began last month.

Remuneration arrangements for Mr Hogg, who is currently the interim Chief Casino Officer for New South West and Queensland, will be announced prior to him starting as Acting CEO.

Shares in The Star Entertainment Group were up 0.32 per cent to $3.12 at the close of trading on Monday.

SGR by the numbers
More From The Market Herald
Ballymore Resources (ASX:BMR) - Non Executive Chairman, Nick Jorss

" Ballymore Resources (ASX:BMR) intersects significant assays at Seventy Mile Mount

Ballymore Resources (ASX:BMR) has intersected significant assays in its initial drilling program at the Seventy Mile…

" Ballymore Resources (ASX:BMR) begins stage one drilling at Ruddygore

Ballymore Resources (ASX:BMR) has begun stage one drilling at the Ruddygore Prospect in North Queensland.

" Ballymore Resources (ASX:BMR) confirms displacement of Duffer lode at Dittmer mine, QLD

Ballymore Resources (ASX:BMR) has confirmed through diamond drilling that the historic Duffer lode at its Dittmer…

" Bannerman Energy (ASX:BMN) completes $40.7m institutional placement

Bannerman Energy (ASX:BMN) has raised $40.7 million via institutional placement, with the funds to be used…