Casino chief quits after damning review

Star Entertainment’s acting chief executive has resigned after a gaming regulator found the company breached money laundering laws, was infiltrated by criminals and was unfit to hold a NSW casino license.

A final departure date for Geoff Hogg has yet to be determined, Star told the ASX on Monday.

Star’s interim chairman Ben Heap will assume the role of executive chairman on an interim basis until Robbie Cooke starts his work as managing director and CEO.

Cooke, the current managing director of EFTPOS machine provider Tyro Payments, was named Star’s new chief executive in June but a start date hasn’t yet been finalized.

The NSW gaming regulator found on September 13 that Star had repeatedly breached the law, misled banks and was infiltrated by criminal elements for years.

The company was also issued with a show cause notice giving it 14 days to explain why it shouldn’t face disciplinary actions, such as the revocation of its NSW casino license.

At 11.34am AEST on Monday, Star shares were down 3.5 percent to $2,605, on a dismal day for the market.

-AAP

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