Australia’s Star Entertainment Group has completed a boardroom makeover, with Bally’s Corp Chairman Soo Kim and President George Papanier appointed while former Star chair Anne Ward and non-executive director Deborah Page have both stepped down as directors.
The changes were confirmed at a meeting of the board last Friday, Star said in a Monday ASX filing.
The company’s new-look Board of Directors follows US casino firm Bally’s Corp and existing shareholder Investment Holdings Pty Ltd receiving probity approval a little over a week ago to implement an AU$300 million rescue package that sees them claim a combined 61% stake in the embattled Australian operator. The controlling stake was achieved via subordinated debt which was converted into equity late last week following Star’s Annual General Meeting.
