Star acting chief executive resigns

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Star Entertainment acting chief executive Geoff Hogg has resigned after a review finding the company unfit to hold a NSW casino license.

A final departure date 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.

Mr 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 finalised.

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 licence.

At 11.34am AEST on Monday, Star shares were down 3.5 per cent to $2.605, on a dismal day for the market.

– AAP

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