Star Entertainment shares gain as Gold Coast CEO exits
Make us a preferred source
Make us a preferred source on Google
The news: Star Entertainment was the best performer across the ASX 200 after morning trade, after the casino operator's Gold Coast chief executive Mark Mackay abruptly resigned on Friday.
The numbers: Star shares were up 2.6% to 20 cents by 12:04pm AEDT and was the best performer across the ASX 200.
However, its shares have shed more than 60% this calendar year, with the embattled casino group hit by deteriorating trading conditions and regulatory challenges.
The context: Mackay was appointed as the new Gold Coast CEO in September 2024. He previously served as chief operating officer at the casino before moving to rival Crown Melbourne.
Mackay's exit on Friday came days after the Queensland government deferred the Star's licence suspension at its Gold Coast casino from December to the end of March.
The Star was told that the decision was made to provide the casino operator with the opportunity to address "significant outstanding remediation matters", including addressing issues raised in the Adam Bell inquiry, and the findings and recommendations of the second Bell report.
