The Star chief falls on his sword

Australian casino operator The Star entertainment Group has announced this morning that its managing director and CEO, Matt Bekier, has resigned.

Bekier’s decision follows issued raised in the public hearings in connection with the review of The Star Sydney currently being undertaken by the Australian Transaction Reports and Analysis Centre.

The review, says the company, remains ongoing, but Bekier told his board that as CEO he is accountable for the effectiveness and adequacy of the company’s processes, policies, people and culture.

He said that the right thing to do was for him to take responsibility. He steps down from the board immediately and will work with the board to transition his responsibilities in an orderly manner. His actual departure date has yet to be determined.

The Australian press this morning was citing the investigation over possible breaches of anti-money laundering and counter-terrorism laws at The Star casinos. The Star is Australia’s second largest casino.