Australian gaming operator The Star has announced that its Group CEO and Managing Director Steve McCann will be leaving the roles, effective from December 16th.
McCann was appointed to the dual role in December of 2024, amongst a tumultuous period for the group due to significant financial difficulties and regulatory constraints.
The group indicated that Executive Chair Bruce Mathieson Jr ‘will take on additional duties […] while a search for a permanent CEO is conducted’. McCann also agreed to ‘remain available to assist the company through a handover period in relation to government and regulator interaction until 8 July 2026’.
McCann’s departure comes just weeks after the group received regulatory approval by both the New South Wales and Queensland governments for a AU$300 million ($193.5 million) investment by Bally’s and Mathieson-controlled Investment Holdings.
This resulted in a change to the company’s board, including the appointment of Bruce Mathieson Jr as Chairman of the Board, alongside appointments of Soo Kim and George Papanier as Board members nominated by Bally’s.
Speaking of McCann’s departure, Mathieson Nr noted that “Steve joined at a time of crisis for The Star and has helped to deliver a critical financial reset for the business and successfully progressed our Remediation Plan, which have laid the foundations for The Star’s long-term future success.”
McCann stated that “The strategic investment by Bally’s Corporation and Investment Holdings Pty Ltd provides an opportunity for The Star to move in a new direction and pursue a pathway to recovery and future growth. Now is the right time for new leadership to be put in place with the experience and passion to build on that momentum and take The Star forward.”
