Star Entertainment CEO Steve McCann to exit after bruising turnaround stint
Star Entertainment’s CEO Steve McCann will be stepping down, the Australian company said in a surprise announcement on Tuesday, after guiding the beleaguered casino operator through a prolonged stretch of acute financial turmoil.
Bruce Mathieson Jr., who was appointed as chair earlier in the month, will be taking on additional executive duties.
The move cements the billionaire Mathieson family’s grip on Australia’s No. 2 casino operator after the family and U.S. gaming group Bally’s Corp converted their rescue loans into equity. The U.S. company now controls about 38%, while the Mathieson family has a 23% interest.
