Star Entertainment chief executive Steve McCann will axe 300 jobs, cancel last year’s annual bonuses, and shed more than $300 million in assets in a bid to salvage a business he claimed is on its knees.
Mr McCann pledged to win back market share from gaming operators – which includes pubs and clubs – after wiping more than a billion dollars off the value of Star’s casinos in Sydney, Brisbane, and the Gold Coast.
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Zoe 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
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
