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Star Entertainment Group Limited’s chairman, David Foster, resigned amid the company’s fight to keep its operation license in Sydney. The Australian gambling and entertainment company is currently trying to convince officials that it should keep its gambling license.
On Monday, April 29, David Foster confirmed he quit, and his departure is effective immediately. Then again, he will remain part of the board “for an interim period,” and will continue to carry out his executive duties, according to The West Australian.
Leadership Changes at the Company
As Foster vacates his board chairmanship role, Anne Ward will take over his seat. Foster's decision to give up his post was sudden. It happened as the board was racing to find a new chief executive officer after the shocking exit of Robbie Cooke last month.
Cooke did not leave in good standing as he was accused of encouraging exclusion and secrecy at the company. He is also set to face the New South Wales (NSW) inquiry sometime this week. Christina Katsibouba, Star’s former chief financial officer, also vacated her post on the same day CEO Cooke left.
The Star Entertainment’s License Inquiry
The previous inquiry, led by Adam Bell SC, was to check if Star Entertainment can hold a gambling license in the region. The initial probe discovered that the company is not fit to operate a casino, so it cannot be granted another permit.
This result was due to the disclosure of a scandalous gang-linked junket operator running an illegal cage within the premium gaming room. It was further revealed that Chinese debit card transactions were also camouflaged as hotel expenses. Moreover, Katsubouba, the former CFO, told the inquiry that she was asked not to share the company finances with the board.
“My view was that we should be fully transparent with them so we could ensure everybody was going in the right direction and the minds in the team could focus on developing a business plan just to address earnings, but we did not quite agree on that,” Katsibouba stated.
Meanwhile, Reuters reported that Foster was only appointed to the executive chairman role just a few weeks ago. The Star’s casino license was suspended in Sydney in October 2022.
Photo by: The Star Entertainment Group Website
