Steve McCann steps down as Group CEO and Managing Director of Australia’s Star with immediate effect
Summary
Steve McCann has left his role as Group CEO and Managing Director of The Star Entertainment Group with immediate effect, effective 16 December 2025. Bruce Mathieson Jr, newly appointed Chairman, will act as Executive Chair and take on extra duties while the company searches for a permanent chief executive.
McCann has agreed to remain available to support the business on government and regulator matters during a handover period running until 8 July 2026. The board thanked him for steering The Star through a difficult period, crediting him with a financial reset and progress on the remediation plan following earlier regulatory problems.
The exit follows probity approval granted to Bally’s Corporation and Investment Holdings for a combined AU$300 million investment that gives them a controlling 61% joint stake in The Star, and recent board appointments from Bally’s.
Key Points
- Steve McCann ceased as Group CEO and Managing Director on 16 December 2025.
- Bruce Mathieson Jr will serve as Executive Chair while a permanent CEO search is under way.
- McCann will assist with government and regulator interactions until 8 July 2026 to ensure an orderly handover.
- The board praised McCann for delivering a financial reset and advancing The Star’s Remediation Plan during a crisis period.
- Bally’s Corporation and Investment Holdings received probity approval for a combined AU$300m investment, resulting in a 61% joint controlling stake; Bally’s holds 38%.
- Recent board changes include appointments from Bally’s and the departure of several existing directors, including former chair Anne Ward.
Context and relevance
The leadership change occurs at a pivotal moment: The Star has been through regulatory findings of unsuitability in NSW, is executing a remediation programme and has just accepted a major external investment that shifts control. That combination of regulatory scrutiny, board overhaul and new majority investors suggests strategy, governance and operational priorities are likely to change.
For stakeholders — regulators, investors, creditors, suppliers and the workforce of around 8,000 — this is a live story. The interim arrangement with Mathieson Jr and McCann’s temporary advisory role signal a managed transition, but the permanent CEO choice will indicate the direction under the new ownership structure and how aggressive the recovery push will be.
Author style
Punchy: this is leadership drama with big balance-sheet and regulatory consequences — worth paying attention to if you follow the Australian gaming sector or corporate turnarounds.
Why should I read this?
Short and blunt: a crisis-era CEO has gone, new owners have control, and the board is reshuffling — that changes who calls the shots at one of Australia’s biggest casino operators. If you care about regulation, investment or the future of The Star, this matters. We’ve skimmed the details so you don’t have to.