Star Gold Coast’s chief executive, Jessica Mellor, is departing the organization. She has held the position since last October and will officially step down on May 24th.
Mellor has been a pivotal figure in the company’s endeavors to transform the Gold Coast property into a top-tier resort. She has also been instrumental in guiding the company through the difficulties posed by the COVID-19 pandemic.
Ian Brown, the gaming director of Star Gold Coast, will serve as the interim CEO while the company seeks a permanent successor. Mellor will continue to provide support to the company until September, assisting with the transition and other crucial initiatives.
Jessica feels this is the ideal moment to depart. We, the board, and I express our gratitude for her dedication as the head of Star Entertainment.
Star Entertainment has also lost its chief executive and chief financial officer.
Meller’s exit is the most recent in a series of high-level departures at Star Entertainment in recent weeks, with several other senior managers also leaving.
In mid-March, Robbie Cooke declared he was stepping down as the company’s top executive and managing director. Christina Cassibba will also step down as the chief financial officer.
Cooke took over as the head of Star Entertainment in November 2022. Before that, he was the fourth CEO in a year for the operator, following Matt Bekier (who resigned during the Star Entertainment NSW inquiry), John O’Neill and Geoff Hogg.
Last month, Star Entertainment stated that the leadership changes were in the best interests of the company. Foster will assume the additional role of executive chairman while a permanent CEO search is underway.
Cassibba will leave the company to pursue other opportunities. Former Tatts Group CFO Neil O’Connell will take on the role on a temporary basis.
Star Entertainment’s third-quarter net loss
This month, Star Entertainment also released a trading update for the third quarter. This included a 4.6% decrease in revenue to A$419.2 million (£216.1 million/€252.6 million)/$269.0 million.
Star Entertainment stated that revenue from its properties’ premium gaming rooms was down year-on-year. This was reflected across the industry – Sydney Star Entertainment’s premium gaming room revenue declined by 19.3%. The decrease at Gold Coast Star Entertainment was 20.0%, while Treasury Brisbane’s was 28%.
Despite this, the primary gaming zones witnessed a rise in earnings. Sydney Star’s income climbed by 5.4%, Gold Coast Star’s income rose by 4.6%, and Brisbane Treasury’s income went up by 6.4%. Nevertheless, income from high-end gambling establishments resulted in a 4.6% decrease in overall revenue across all three hotels.
Not all financial outcomes were disclosed in the update. The publicly accessible financial outcomes include a net loss after taxes of A$6.8 million. However, this is a positive indication compared to the A$49.7 million loss recorded in the third quarter of 2023.
News of a second round of inquiries into the Star by the New South Wales Independent Gaming Commission surfaced in the third quarter. This is a follow-up to the notorious Bell Report.
The inquiry, labeled “Bell Two,” commenced on February 19th and will continue until May 31st.
The initial Bell Report uncovered a series of anti-money laundering and social responsibility shortcomings at the Sydney Star. It suggested 30 measures to enhance practices. A year after the initial report was released, a report indicated that the Star had implemented 22 of the 30 recommendations.
The second round of inquiries will concentrate on the Star’s culture and the influence of the first Bell Report.
Sign up for the iGaming newsletter.