Star Entertainment (ASX:SGR) will shut its corporate head office as part of a sweeping restructure that is expected to cut hundreds of jobs and return management responsibility to its three casino precincts in Sydney, the Gold Coast and Brisbane.
The plan was outlined in emails sent to staff by newly appointed CEO Bruce Mathieson jnr, who said the company intended to close the corporate office "in its current form" in order to simplify operations and build a more sustainable business.
While Mathieson jnr did not specify the number of redundancies, sources familiar with the discussions said the cuts would run into the hundreds, out of an estimated 600 staff currently employed at head office.
Some employees will be redeployed into casino precincts as Star moves to localised management, separate from the 40 roles already cut last November 2025.
The restructure comes months after chairman Soo Kim flagged major job losses and amid ongoing financial and regulatory pressure on the casino operator, which narrowly avoided administration in March following a $300 million takeover deal led by US casino giant Bally's Corporation and the Mathieson family’s Investment Holdings.
Bally's now owns about 38% of Star, while the Mathieson vehicle holds around 23%. The announcement coincided with the resignations of CFO Frank Krile and COO Jeannie Mok, adding to a string of senior departures.
Star has reported a net loss of $427.7 million and is awaiting a potential fine for money laundering breaches, even as it seeks to ease its debt burden through asset sales and refinancing.