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Star Entertainment names interim CEO after Steve McCann steps down amid money-laundering scandal and $400M fine.
Star Entertainment has named a new interim CEO after Steve McCann stepped down after less than 18 months, citing the need for fresh leadership as the company recovers from a $400 million AUSTRAC fine and suspended gaming licenses tied to a money-laundering scandal.
McCann, who joined during a crisis, helped execute a financial reset and advance a remediation plan.
Star chair Bruce Mathieson Jnr will serve as executive chair during the search for a permanent replacement.
The leadership change follows regulatory approval of a $300 million rescue package from Bally’s Corp and Mathieson’s Investment Holdings.
Despite ongoing challenges from a 2021 scandal that deterred high-stakes gamblers, investors responded positively, pushing shares up 2.4%.
McCann will assist with government and regulatory matters until July 8.
Star Entertainment nombra CEO interino después de que Steve McCann renuncie en medio de un escándalo de lavado de dinero y una multa de $400 millones.