How far will the regulator push the company? How much damage have squabbling executives done? An inquiry into the Sydney casino operator is getting ugly.
A few days after Star Entertainment chief executive Robbie Cooke resigned, the gaming giant’s chairman, David Foster, headed for Kuala Lumpur. He was there to reassure major shareholders that Cooke’s exit – along with the departure of chief financial officer Christina Katsibouba – was no indication that things were going seriously awry.
Whatever Foster said to Far East Consortium’s billionaire chairman, David Chiu, bought him time. Between them, Far East and Chow Tai Fook, two Hong Kong-based firms, own almost 8 per cent of Star. That time ran out on Monday morning, when an inquiry into the company’s flagship Sydney casino revealed in excruciating detail the breakdown in the all-important relationship between management and regulators.
Kylar LoussikianDeputy editor – businessKylar Loussikian is the Financial Review’s deputy editor – business. Email Kylar at kloussikian@afr.com
Zoe SamiosBusiness reporterZoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
