Various executives from Star Entertainment Group, including Matt Bekier, will be missing out on a share bonus after falling short of performance targets.
In a filing to the ASX on Thursday, the casino operator said that no performance rights have vested due to the non-achievement of the performance hurdles on testing.
The performance rights that have lapsed include 253,456 performance rights granted to Star Entertainment’s chief executive and managing director, Matt Bekier.
The performance hurdles included an earnings per share (EPS) performance hurdle of 35.2 cents per share, as well as a total shareholder return (TSR) hurdle, requiring that the company ranks above the 50th percentile compared to a defined peer group.
However, the company’s TSR for the four year period was -3.1 percent, ranking 58th among the defined peer group.
Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.