SYDNEY, 17 December 2025 — Australia’s troubled casino operator Star Entertainment Group Ltd. has named Bruce Mathieson Jr as its new Chief Executive Officer, a key development as majority shareholders tighten their grip on the company amid lingering financial and regulatory challenges.
The leadership change follows the departure of former CEO Steve McCann, who stepped down after navigating the embattled casino operator through a period of intense scrutiny and financial strain. McCann’s exit paved the way for the largest shareholders, the Mathieson family and U.S. gaming firm Bally’s Corp, to consolidate control and drive the next phase of restructuring.
Mathieson Jr, previously Star’s chairman, relinquished that role to assume the CEO position. Concurrently, Soo Kim, chairman of Bally’s, was appointed chairman of Star’s board, reflecting Bally’s expanded influence following its substantial investment in the company.
The combined Mathieson family and Bally’s stake accounts for a controlling interest in Star, with Bally’s holding approximately 38 per cent and the Mathiesons around 23 per cent, reinforcing their ability to shape strategy at Australia’s second-largest casino group.
Star has endured a turbulent stretch marked by regulatory investigations, weak earnings and the threat of severe penalties, including potential fines linked to anti-money-laundering breaches. The company’s efforts to stabilise operations included asset sales and refinancing efforts, with McCann playing a central role in steering those efforts before relinquishing day-to-day leadership.
Investors responded positively to the leadership announcement, with Star’s shares rising by as much as 4.8 per cent following the news, signalling cautious optimism that Mathieson Jr’s appointment could provide fresh momentum for the recovery strategy under the new ownership structure.
The Ledger Asia View:
Star Entertainment’s management overhaul underscores how strategic investors can alter the trajectory of distressed hospitality and gaming firms. For Asia-Pacific investors, the shift highlights both the opportunities and risks inherent in regional casino markets, where regulatory pressures and capital intensity collide. Mathieson Jr’s tenure will be closely watched as a bellwether for whether Star can stabilise operations and rebuild confidence among regulators, lenders and customers.
