The Star Entertainment Plans Major Senior Staff Reductions Ahead of Bally’s Takeover
Senior Staff Reductions at The Star Entertainment
The Star Entertainment Group is reportedly preparing to reduce its senior workforce by approximately 40 roles. This move is part of wider restructuring efforts occurring just before Bally’s planned takeover of the company. These changes come shortly after the addition of a new non-executive director to the company’s leadership team.
Details on Leadership Restructuring
According to insider reports from the Australian Financial Review, The Star’s CEO, Steve McCann, recently notified employees about the upcoming layoffs as part of cost-saving measures designed to stabilize the company. The goal behind these adjustments is to strengthen the organization’s operations, helping it overcome current financial challenges and align better for future market demands.
These developments follow criticisms from Bally’s chair, Soo Kim, who highlighted persistent management issues at The Star and emphasized the need for substantial changes. While trimming the workforce, McCann also indicated plans to bring in new key personnel to support critical functions.
Supporting this strategy, the company recently appointed Don Pasquariello, an experienced non-executive director with four decades of expertise in audit, governance, and regulatory compliance. Additionally, Bruce Mathieson Jr. joined the board in October, filling the position previously held by Michael Issenberg, following regulatory approvals.
The Upcoming Bally’s Takeover
The leadership changes are taking place as Bally’s along with the Mathieson family prepare to assume control of The Star Entertainment. After facing years of financial difficulties and regulatory scrutiny, the company is looking to this new leadership team to help restore its business stability and public image.
Industry sources suggest that the investment and takeover process by Bally’s and the Mathieson family could be finalized imminently, possibly within the week, marking a new chapter for The Star as it embarks on its recovery path under fresh guidance.
