The announcement comes amid the New South Wales regulator ILGA\u2019s inquiry into Star’s Sydney casino.<\/p>\n\n\n\n\n\n\n\n
Australia.-\u00a0The Star Entertainment Group <\/strong>has recently announced that its board has resolved to immediately suspend rebate programmes for both domestic and international players across all its casinos until further notice. The company said it will work with gaming regulators to address various identified risks as part of ongoing reviews of systems and processes.\u00a0<\/p>\n\n\n\n The Star has hired external advisors and continues a programme of work to further those systems and processes while cooperating fully with the review.\u00a0\u00a0<\/p>\n\n\n\n The company also reconfirmed a commitment it made in October 2020 not to deal with junket operators. It said the suspension of rebate programmes is not expected to have any material impact on earnings for the fiscal year 2022 due to the impact of the Covid-19 pandemic.\u00a0<\/p>\n\n\n\n Last Friday (May 6), The Star Entertainment Group accepted the\u00a0resignations of three more executives<\/a>:\u00a0<\/strong>chief financial officer\u00a0Harry Theodore<\/strong>, chief casino officer (NSW)\u00a0Greg Hawkins<\/strong>\u00a0and chief legal and risk officer and company secretary\u00a0Paula Martin<\/strong>. The company has announced Christina Katsibouba will assume as a temporary interim chief financial officer while Geoff Hogg will be interim chief casino officer NSW & Qld.<\/p>\n\n\n\n In late March, Matt Bekier<\/a> stepped down as managing director and CEO of The Star Entertainment Group<\/strong>. Speaking to the inquiry last month, he said he was disappointed by the Sydney casino\u2019s management<\/a> and blamed the failure of the international VIP business on the venue\u2019s \u201csubculture\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":" The announcement comes amid the New South Wales regulator ILGA\u2019s inquiry into Star’s Sydney casino.<\/p>\n","protected":false},"author":176,"featured_media":22425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Star Entertainment Group has immediately suspended all domestic and international player rebate programmes across its casinos and reaffirmed its commitment to not deal with junket operators, amidst an ongoing ILGA inquiry into its Sydney operations. This decision follows a series of high-profile executive resignations, including its CEO, CFO, and CCO, as the company addresses identified risks and cooperates with regulatory reviews. The suspension is not expected to materially impact FY22 earnings due to the pandemic's effects.","focusai_entities":"The Star Entertainment Group, ILGA, Harry Theodore, Greg Hawkins, Paula Martin, Christina Katsibouba, Geoff Hogg, Matt Bekier","focusai_location":"Australia, New South Wales, Sydney, Queensland","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), marketing_crm (0.7), payments_fraud_aml (0.8), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Impact on VIP?","query":"What is the projected long-term impact of the rebate programme suspension and junket operator ban on The Star Entertainment Group's international VIP segment GGR and NGR, post-pandemic recovery?"},{"label":"Governance Framework Changes?","query":"Beyond executive changes, what specific enhancements to The Star Entertainment Group's corporate governance and risk management frameworks are being implemented to address the systemic issues identified by the ILGA inquiry?"}],"footnotes":""},"categories":[16336,157,158],"tags":[23871],"class_list":["post-29668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=29668"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29668\/revisions"}],"predecessor-version":[{"id":29689,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29668\/revisions\/29689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22425"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}