The Star suspends all rebate play programs
The Star Entertainment Group Limited has suspended all domestic and international rebate play programs, and has reconfirmed a commitment to not dealing with junkets.
The announcement comes while the Australian operator addresses issues arising from the ongoing review of its Sydney casino, which is being undertaken by Adam Bell SC in accordance with the Casino Control Act 1992.
“The board has resolved to immediately suspend rebate programs for both domestic and international players across all its casinos until further notice,” a statement from the operator read.
“The Star will work with gaming regulators to address various identified risks as part of ongoing reviews of systems and processes.”
The Star added that it has engaged external advisors and continues a significant effort to further improve its systems and processes while cooperating fully with the review.
The company also referred to its decision in October 2020 to end all junket programs, noting that “in light of the Covid-related impacts on this part of the business, the decision to suspend rebate programs is not expected to have any material impact on earnings for FY22.”
The Star also referred to its announcement earlier this month that detailed the resignations of its CFO Harry Theodore, Chief Casino Officer (NSW) Greg Hawkins, and Chief Legal & Risk Officer and Company Secretary Paula Martin.
They will work with the Executive Chairman to transition their executive responsibilities in an orderly manner, with an executive search firm to look for their permanent replacements.
As part of the transition period, Christina Katsibouba has been appointed as Interim CFO, with Geoff Hogg announced as Interim Chief Casino Officer NSW & Qld. Other interim appointments are expected to be announced soon.
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