The Star Officially Appoints David Foster and Anne Ward as New NEDs

The Star Entertainment Group has appointed David Foster and Anne Ward as non-executive directors. In doing so, the company’s board of directors number has increased to seven and the new appointments are subject to regulatory approvals. 

This Is Ward’s Second High-End Appointment in 2022 

Before being appointed as a non-executive director at The Star, Ward worked in the same position at Crown Resorts. She was named as NED during the massive purge at Crown, which was insinuated by the Bergin Report. The Bergin Report found Crown unsuitable to hold its New South Wales license. 

However, after Crown was acquired by Blackstone, she retired as the company’s NED. Upon the official announcement, Ward noted that she’s looking forward to joining The Star’s board and helping the company “drive value for shareholders.”

Apart from working at Crown, Ward has experience across several sectors, including banking, technology, insurance, healthcare and financial services. 

On the other hand, Foster is a true pioneer in financial services as he worked for more than 25 years in this sector. This includes 5 years as Suncorp Bank’s CEO. He also shared his thoughts on being appointed as NED. Foster noted that he too, will be working hard to increase value for the company’s shareholders and that he’s looking forward to “contributing to organizational change” that will lead to the increase in value. 

The Star’s interim chair, Ben Heap, noted that both Ward and Foster bring a “relevant set of skills” to the board and that they have massive experience in industries that are highly regulated.

Trouble Awaits The Star in Queensland

Queensland launched a probe in The Star’s Gold Coast and Brisbane casinos. An initial public hearing into the company, over alleged criminal activities across Australia, has begun. Queensland will examine several arrangements through which Chinese nationals were able to gamble at the casinos owned by The Star. 

One of the sections that will be investigated in particular is the use of China UnionPay credit cards. Interestingly enough, Crown Melbourne was also accused of the same criminal activities. Robert Gotterson, former judge at the Court of Appeal, stated that The Star Sydney’s operations raised concerns after several allegations were made and evidence was presented. 

In the meantime, the Gold Coast establishment is undergoing massive expansion progress. The $2 billion master plan for the second 63-floor hotel reached a massive milestone. The six-level podium has just been poured with 12,000 cubic meters of concrete. This podium is the foundation for a new pool bar, hospitality amenities and a luxury recreation deck with a pool. 

According to a report by The Star, all 457 apartments in the facility have already been sold and half of them were purchased by local investors.