2019 CEO Survey: Matt Bekier, Star Entertainment

Australia must find a more constructive way to engage with China, says Star Entertainment boss Matt Bekier.

The Star Entertainment Group CEO Matt Bekier. Picture: Jerad Williams

Every year The Australian’s John Durie asks some of the biggest names in Australian business five key questions about what’s coming in the year ahead.

Here, in his own words, is what Matt Bekier, the chief executive of casino operator Star Entertainment, sees ahead in 2020.

You can read more from the CEO Survey.

How is your company affected by low-interest rates and what is needed to boost the

economy?

We have a multi-billion dollar investment program underway, so lower interest rates help us

generate appropriate returns. But somehow the low rates also appear to have dampened

consumer confidence. A more positive aspect is the great investment in infrastructure now

underway – although the Government needs to initiate red tape reduction to further stimulate

corporate investment.

What is the impact of government regulations on your company, including those

applying to the financial sector?

Our primary interaction is with Austrac around international and domestic money flows.

Higher standards and closer scrutiny in these areas are welcomed by all operators who aim

to build a sustainable, legitimate long-term business.

What percentage of company revenues are spent on research and development, and

how is your company using technology to improve performance?

Our technology innovation is largely focused on improving the customer experience,

enhancing compliance and streamlining operations. Key technologies we are investing in

now include facial recognition, radio frequency identification and AI.

What are the three major policy issues facing the country and what should be done

about them?

Finding a more constructive way to engage with China is one. Aligning overlapping and

conflicting regulation at local, state and federal levels would be another key area for

consideration.

What are the major impediments to long-term growth facing your company and what

can or is being done about them?

We need a long-term vision for planning that will enable more hotel development in Sydney.

If the city and state are to take advantage of the tourism opportunity identified by fact-based

research, then luxury hotels must be a priority. As a company, we are also focused on

continuing to improve customer service standards across the board, but especially with a

focus on the high-end tourist from Asia.