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Transformation of
The Star Entertainment Group

Our Commitment

As a team at The Star, we acknowledge the failures of the past as identified in the Bell and Gotterson reviews of 2022. We fully appreciate the responsibilities involved in holding our licences and are absolutely committed to transforming our business.

In rebuilding The Star, we strive to stand as a transparent, accountable organisation, founded on a strong ethical framework and supported by robust governance so we can earn back the trust of our guests, regulators, shareholders, the community and our dedicated team members.

Our journey so far

Following the findings and recommendations of the Bell and Gotterson reviews of 2022, we commissioned The Ethics Centre to conduct a comprehensive Culture Review of our business. The recommendations from the review span identification of shadow values, and systemic drivers from operating model, organisational structure and strategy to leadership competencies and capabilities.

We then engaged Deloitte to complete an independent Root Cause Analysis of the failings identified by Bell, Gotterson and The Ethics Centre.

These results, together with the recommendations from the reviews, have been incorporated into a comprehensive, organisation-wide Remediation Plan.

The plan details 640 actions to drive structural, cultural and operational transformation. Remediation above all is our number one priority and the plan will track and hold us accountable to the multi-year program we are committed to delivering. This large and complex program of work is currently in progress.

Some key transformation initiatives to date:

Ethical Framework

An ethics framework has been developed encompassing Purpose, Values and Principles (PVP); and a Culture Strategy has been developed, underpinned by stakeholder input and findings of Deloitte and The Ethics Centre.

New strategic direction launched supported by the new PVP.


Cashless Gaming Trial

Cashless and carded play trial launched at The Star Sydney in Feb 2024 on 51 poker machines and 8 table games. The trial is a precursor to the introduction of cashless and carded play at NSW casinos from August 2024. This initiative reduces risks of money laundering as all transactions are linked to a verified financial institution with fixed transaction limits, monitoring and transaction reporting in place.

This also provides greater ability to identify guests who may benefit from intervention from our Safer Gambling team.

Safer Gambling

Time Play limits and regular check-in conversations with guests are in place to encourage safer gambling and minimise harm.

A comprehensive exclusions process is also active to minimise gambling harm. Exclusion from gaming can be initiated by The Star or by the guest themselves, with information shared across our three properties.

Financial Crime

Our Financial Crime Risk Operations team has expanded from 26 to 115 full time employees to support our response to the Bell inquiry.

We have rewritten our Financial Crime Program Manual and have implemented extensive new internal controls focused on Anti-Money Laundering and Counter-Terrorism Financing.

Risk Management

New Chief Risk Officer appointed in 2023 and Heads of Risk roles introduced in each property.

Risk team expanded from 53 to 95 full time employees.

Our Sydney internal controls were replaced on 30 June 2023. This project was completed by 150 team members over eight months and involved 546 unique controls.

Our Queensland internal controls are currently being uplifted.


7 Feb 2024 – Appointment to the Board – Peter Hodgson (subject to regulatory approvals)

9 November 2023 – Chairman and CEO addresses – AGM

6 July 2023 – Board Renewal Update

22 March 2023 – Appointment of Chairman

15 December 2022 – Board Renewal Update (David Foster)

13 December 2022 – ASIC Proceedings and Board Renewal

11 November 2022 – Board Renewal Update

31 October 2022 – Resignation of Director (Gerard Bradley)

12 September 2022: Nawal Silfani – Appointed as additional Company Secretary (subject to regulatory approvals)

15 August 2022: Anne Ward and David Foster – Announced as Non-Executive Directors (subject to regulatory approvals)

11 July 2022: Michael Issenberg – Appointed Non-Executive Director

23 May 2022: Ben Heap – Appointed Interim Chairman


03 April 2023 – Executive Team Update

13 February 2023 – Appointment of Scott Saunders as Chief Risk Officer (subject to regulatory approvals)

28 December 2022 – Appointment of Chief Financial Officer

02 November 2022: Betty Ivanoff appointed as Chief Legal Officer (subject to regulatory approvals)

13 October 2022: Managing Director & CEO commencement date

26 September 2022: Ben Heap appointed Interim Executive Chairman

24 August 2022: Scott Saunders – Announced as Chief Risk Officer  (subject to regulatory approvals and commencement date to be confirmed)

09 August 2022: Paula Hammond – Appointed Chief People & Performance Officer

25 July 2022: Scott Wharton – Appointed Chief Executive Officer of The Star Sydney and Group Head of Transformation

29 June 2022: Robert Cooke – Announced as Managing Director and Chief Executive Officer (subject to regulatory approvals and commencement date to be confirmed)

NSW Government
Bell Report
Gotterson Review
ASX Announcements
Independent Monitor Quarterly Reports

15 September 2022


As Interim Chairman of The Star Entertainment Group, I have spent the past few days carefully considering the contents and findings of the Report prepared by Mr Adam Bell SC with respect to our Sydney business.

This Report makes for difficult reading; we acknowledge its findings and recommendations and the gravity of the matters as set out in the Report. We also acknowledge the public criticism of our governance, behaviours and culture, including by the NSW Independent Casino Commission Chief Commissioner, Mr Philip Crawford. We have fallen short of expectations. The people of NSW placed their trust in us as the holder of a casino license, and we have not lived up to that trust. For that we offer a sincere and unreserved apology.

Over the coming days, we are working to respond to the notice from the NSW Independent Casino Commission as to why we should be able to continue to operate. We are taking stock of our existing programs, the changes made to date, and planned initiatives. We recognise the seriousness of the matters raised by Mr Bell and Mr Crawford and we are determined to address them and to do so with urgency.

In the meantime, I want to share with you our immediate priorities.

It is clear from the Report that we need to fundamentally transform our culture. We need more transparency, more robust governance, and greater accountability. At its heart, we need to be a workplace where our team members feel free to raise concerns, where we have open and honest dialogue with our regulators and Independent Monitor, and where our leadership is both vigilant and listens when concerns are raised. We need to ask not only “Can we?”, but “Should we?”, and act swiftly where there is an issue. I accept that there have been times we’ve been arrogant and closed off to criticism. That will not be the case in the future.

Our goal is to earn back your trust and the trust and confidence of the NSW Independent Casino Commission, and indeed all our regulators. I recognise that we won’t be judged by our words, but by our actions. You have my commitment, and that of my fellow directors and senior management team, that we will do everything in our power to make the necessary improvements.

We are developing and will implement a comprehensive remediation plan, which we refer to as our Renewal Plan, to serve as the Company’s integrated roadmap for improving our governance, culture and controls. We will not only fix the issues raised in the Report but will examine and address their root causes. Given the extent and breadth of the issues raised, our Renewal Plan is a multi-year plan, to fully address and embed the fundamental changes required in all aspects of our business.

Examples of actions we’ve taken to date include introducing stronger controls, enhancing our regulatory compliance functions and training, adding new members to our Board, rebuilding our senior leadership team, separating our Risk and Legal functions, hiring a new Chief Risk Officer, and voluntarily appointing an Independent Monitor to oversee our progress.

We acknowledge there is much more to be done and we will do it working constructively and transparently with the NSW Independent Casino Commission, our other regulators, and our Independent Monitor.

As we transform our business, we will share our progress via this webpage.

We are fully committed to the long term, to transform The Star for the better for our 18 million annual guests, our 8,000 team members and almost 75,000 shareholders.

In the spirit of openness and transparency, I hope to answer whatever questions you may have after reading this and as we move forward – you can reach me at

Thank you.

Ben Heap
Interim Chairman
The Star Entertainment Group


The Star Entertainment Group announced on 5 April 2016 share sale facilities that provided eligible small shareholders the opportunity to sell their shares without incurring any brokerage or handling costs.

Participation in the separate share sale facilities were open to eligible shareholders whose registered address was in Australia or New Zealand as at 7.00pm (Sydney time) on 29 March 2016 (Record Date) and who were:

  1. registered holders of less than a marketable parcel of shares (i.e. less than $500 worth of shares on the Record Date) (Small Holding Sale Facility); or
  2. registered holders of 5,000 or less shares (but held at least $500 worth of shares) on the Record Date (Voluntary Share Sale Facility).

On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form (for the Small Holding Sale Facility) or a Sale Instruction Form (for the Voluntary Share Sale Facility), and Terms and Conditions for the relevant share sale facility.

Both share sale facilities closed at 5:00pm (Sydney time) on 17 May 2016 (Closing Date).

All participants who had their SGR shares sold under either the Small Holding Sale Facility or the Voluntary Share Sale Facility received the same average price of $5.51 per share, which was calculated by dividing the total proceeds from the sale of all SGR shares sold under the facilities by the total number of SGR shares sold under the facilities.

Payment of the sale proceeds were made to participating shareholders on 27 May 2016 in accordance with their payment instructions as recorded on the share register.

Small Holding Sale Facility

The Small Holding Sale Facility was conducted in accordance with The Star Entertainment Group’s Constitution and the Australian Securities Exchange Listing Rules that enables all listed companies to sell shareholdings valued at less than $500 (Unmarketable Parcel).

Based on a share price of $5.68, being the closing price of The Star Entertainment Group (SGR) shares on the Australian Securities Exchange on the Record Date, an Unmarketable Parcel was any holding of 88 shares or less.

Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date.

Small Holding Facility Key Dates:

  • 29 March 2016 (7pm) – Record Date
  • 5 April 2016 – Facility Opened
  • 17 May 2016 (5pm) – Facility Closed
  • 27 May 2016 – Payment of sale proceeds and mailing of payment advices

Voluntary Share Sale Facility

The Voluntary Share Sale Facility was conducted in accordance with Class Order CO 08/10 issued by the Australian Securities and Investment Commission.

Eligible shareholders who wished to sell their shares under the Voluntary Share Sale Facility were required to return a Sale Instruction Form by the Closing Date.

Voluntary Holding Facility Key Dates:

  • 29 March 2016 (7pm) – Record Date
  • 5 April 2016 – Facility Opened
  • 17 May 2016 (5pm) – Facility Closed
  • 27 May 2016 – Payment of sale proceeds and mailing of payment advices

For full details of the Small Holding Sale Facility and the Voluntary Share Sale Facility, please see the ASX Announcement dated 5 April 2016 in the News section of our website.


The demerger of The Star Entertainment Group (formerly known as Echo Entertainment Group Limited) from Tabcorp Holdings Limited (Tabcorp) was implemented on 15 June 2011 by way of Scheme of Arrangement pursuant to the Tabcorp Scheme Booklet dated 15 April 2011 (Demerger).

As part of the Demerger, Tabcorp sought a ruling from the Australian Taxation Office on the taxation implications for shareholders. On 29 June 2011, the Australian Taxation Office issued Class Ruling CR 2011/66, in accordance with the application made by Tabcorp. A copy of the Class Ruling CR 2011/66 can be viewed here.

A Tax Calculator is provided below to assist shareholders in calculating the Australian capital gains tax cost base allocation for Tabcorp shares and The Star Entertainment Group shares. The Tax Calculator is a general guide only and does not constitute tax advice. Shareholders should seek advice from an appropriate professional adviser on the tax implications of the Demerger based on their own individual circumstances.

Click here to download the Tax Calculator
Click here to access information on the Australian Taxation Office website