The Star Entertainment Group’s chief financial officer Frank Krile and chief operating officer Jeannie Mok are the latest key departures at the embattled Australian casino operator.
Star confirmed to the Australian Securities Exchange (ASX) on 29 December that Krile had resigned with immediate effect. The operator has commenced the process to appoint a new CFO.
Mok has also resigned and will be leaving her role at the end of January.
New CEO confirmed
The exits come just weeks after Bruce Mathieson Jr was appointed executive chairman before becoming chief executive the following day.
Mathieson Jr. succeeded Steve McCann, who departed as CEO and managing director in mid-December after less than two years in the role.
Mathieson Jr.’s ratification as CEO and MD was confirmed in the 29 December announcement, with the company revealing he will earn a basic annual salary of A$800,000 ($535,000).
The appointment is subject to regulatory and ministerial approvals in New South Wales and Queensland.
Management changes
Mathieson Jr. gave no reason for the departures of Krile and Mok.
“I would like to thank Frank and Jeannie for their significant contribution to the business and particularly their assistance in progressing our remediation plan,” he said. “I wish them both well in their future endeavours.”
The Mathieson family and US-based Bally’s are Star’s largest shareholders, holding stakes of 23% and 38%, respectively, after a takeover was agreed last year.
Bally’s chair Soo Kim was installed as the operator’s chairman last month.
Financial challenges
Star has undergone numerous management reshuffles and cash injections over the past two years as it has struggled to stay afloat.
The operator posted a A$471.5m loss for the 2025 financial year and reportedly owes lenders about A$450m. The operator also faces a huge fine of as much as A$400m from AUSTRAC, Australia’s financial watchdog, due to alleged anti-money laundering failures.
Civil penalty proceedings against Star and its entities commenced in late 2022 after the case was opened in June 2021. In September, Star secured a deal to defer the suspension of its Gold Coast casino licence to 30 September 2026 owing to “steady progress” regarding its remediation efforts.
Star Entertainment’s tumultuous 2025 concluded with a number of executives announcing their departures.