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In Australia and casino operator The Star Entertainment Group Limited has reportedly announced that its Acting Chief Executive Officer has stepped down after less than three months in the provisional role.
According to a report from Business News Australia, the move from Geoff Hogg (pictured) comes only days before the state-sanctioned inquiry into the Brisbane-headquartered firm’s suitability to hold a Queensland casino license is due to release its ultimate findings. The source detailed that this examination is now widely expected to arrive at the same damaging conclusions as the recent analogous exercise conducted by officials in New South Wales that the firm should be stripped of its local certification.
Ruinous ruling:
The Star Entertainment Group Limited is responsible for the gambling-friendly Treasury Brisbane and The Star Gold Coast venues in its home state of Queensland and is reportedly planning to premiere that jurisdiction’s $2.8 billion Queen’s Wharf Brisbane development by the second half of next year. The company also runs the 351-room The Star Sydney facility in Australia’s largest city but was purportedly rocked by the New South Wales determination amid allegations that it had previously flouted rules on the use of Chinese debit cards to process illicit transactions worth millions of dollars, lied to banks about such dealings and failed to properly engage with local regulators.
Temporary term:
Hogg was reportedly only appointed to lead The Star Entertainment Group Limited on an interim basis in June following the departure of predecessor John O’Neill. The industry veteran has now purportedly stood down with immediate effect after working for the casino firm for over 13 years and holding down a number of key posts including overseeing operations at The Star Sydney, Treasury Brisbane and The Star Gold Coast properties.
Conclusive cessation:
The Star Entertainment Group Limited used a filing of its own (pdf) to declare that Hogg has resigned as its Acting Chief Executive Officer as well as from ‘all other positions’ while handing over his leadership duties to company’s Executive Chairman, Ben Heap. The Sydney-listed firm furthermore stated that this state of affairs is now set to continue until former Tyro Payments Limited boss Robbie Cooke assumes overall leadership after being hired in late-June as a permanent replacement for O’Neill.
Read a statement from The Star Entertainment Group Limited…
“Hogg’s final departure date is yet to be determined but, in the meantime, he will work with the board to transition his executive responsibilities in an orderly manner. Heap has declined to be paid any additional remuneration while he is acting in the Executive Chairman role and The Star Entertainment Group Limited will make a further announcement once the timing of Cooke’s commencement has been finalized.”
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