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Scott Saunders, Chief Risk Officer (CRO) of The Star Entertainment Group, has resigned, effective 31 January 2025.
Saunders will cease to be a director of all relevant subsidiary company boards upon the effective date.
Until then, Saunders will continue to work on The Star’s remediation program once his successor is appointed. The search for his successor will commence shortly.
Acting Group CEO, Neale O’Connell, thanked Saunders for his dedication during his tenure: “I want to thank Scott for his dedication and commitment to The Star during a difficult and transformative period and wish him well in his future endeavours.”
Star Entertainment also responded to an ASX query regarding the group’s unexpected increase in share price without underlying news.
The group reaffirmed that it wasn’t aware of any information it has not disclosed, and attributed the sudden share price increase to the speculations on “potential corporate activity and the various financial challenges” that the group was currently facing.
The Star also added that a report from Adam Bell SC, regarding the inquiry into the group’s suitability New South Wales, was due to be provided to the NSW Independent Casino Commission on 31 July 2024. The report would be released to the public soon after.
In mid-July, Star Entertainment announced the formal appointment of its Group CFO and its Sydney CEO, with all necessary regulatory approvals received for both roles.
The group also resolved a recent system performance issue affecting its electronic tables and game machines on its establishments.
