Australian gaming operator The Star Entertainment has appointed former Crown Resorts COO Mark Mackay as its Chief Executive Officer for The Star Gold Coast, effective from Tuesday.
Mackay formerly served as COO for Crown Resorts Melbourne and COO of The Star Gold Coast and has worked with The Star in various roles between 2006 and 2017.
Speaking of the appointment, Anne Ward, Chairman of The Star, noted “Mark has a deep understating of what it takes to run a leading integrated resort development and brings a lot of capability to this role. Mark’s appointment and relevant experience further strengthen our leadership team as we focus on implementing the necessary reforms at The Star”.
The Star just recently announced the sale of its Treasury Brisbane Casino building for some $45.5 million, potentially as part of its financial restructuring, following the release of the results of the Bell Two inquiry into its suitability to hold a casino license in Sydney.
The Star has indicated that it is ‘reviewing its financial and liquidity position with various advisors’ and even is considering safe harbor provisions – to isolate directors from individual liability if a restructuring fails.
The group has yet to release its financial results, due to the ongoing concerns, with trading on the Australian stock exchange suspended until it does so.
