SGR 2.00% 51.0¢ the star entertainment group limited

Mr Weeks was appointed to run Star Sydney’s casino operations in...

  1. 42 Posts.
    lightbulb Created with Sketch. 6
    Mr Weeks was appointed to run Star Sydney’s casino operations in October 2022 and will remain in the position until June this year. He also has a separate contract with Star’s Brisbane and Gold Coast operations until December 8. So far, this means he has been paid around $1.2 million to oversee the company’s NSW operations, a small proportion of the $68 million spent on remediation by Star in the past financial year.

    “The Star pays Mr Weeks directly, after the NICC has reviewed and approved the invoices,” a response to questions tabled by the office of Gaming Minister David Harris reads. “Invoices for Mr Weeks’ staff are reviewed and approved by the NICC.”

    Menu

    Advertisement

    Companies

    Gaming & Wagering

    Casinos

    Star Sydney’s special manager in $1m payday



    Zoe SamiosBusiness Reporter

    Mar 21, 2024 – 2.18pm

    Save

    Share

    Gift this article

    Listen to this article

    3 min

    Star Entertainment’s government-appointed special manager is being paid almost $1 million per year to oversee the company’s Sydney casino, with his work at its Queensland operations likely taking his salary over that of the group’s chief executive.

    Nick Weeks, a former NRL executive, is being paid $75,000 per month to oversee the Sydney casino, according to disclosures made to the NSW parliament. He is separately being paid by the company to oversee its casinos in Brisbane and the Gold Coast after inquiries in both states found it was unsuitable to hold gaming licenses.

    Separately, Adam Bell, SC, is expected to be paid around $525,000 for his work overseeing another inquiry into the Sydney casino for the NSW gaming regulator, the Independent Casino Commission, which begins next month.



    Nick Weeks has been overseeing various Star Entertainment properties.  

    Mr Weeks was appointed to run Star Sydney’s casino operations in October 2022 and will remain in the position until June this year. He also has a separate contract with Star’s Brisbane and Gold Coast operations until December 8. So far, this means he has been paid around $1.2 million to oversee the company’s NSW operations, a small proportion of the $68 million spent on remediation by Star in the past financial year.

    “The Star pays Mr Weeks directly, after the NICC has reviewed and approved the invoices,” a response to questions tabled by the office of Gaming Minister David Harris reads. “Invoices for Mr Weeks’ staff are reviewed and approved by the NICC.”

    It is unclear how much Mr Weeks makes from his contract in Queensland. In both instances, Mr Weeks has total control of the casino licence, which means he is responsible for liabilities. Mr Weeks declined to comment. Industry sources, not authorised to speak publicly, said Stephen O’Bryan, KC, the special manager in charge of Crown Melbourne, and his team, had made more than $10 million in the job.

    Mr Weeks’ salary has come to light a month after the NICC announced a second independent inquiry into whether Star had fixed its culture failures enough to regain its licence in Sydney. The NICC’s chief commissioner, Philip Crawford, said he had concerns with the “capability and capacity” of the leadership team to execute its remediation programs. That decision was based on Mr Weeks’ observations over nearly 18 months.

    On the day of the announcement, Mr Crawford said Mr Weeks had been active in identifying weaknesses in the company. “These internal control measures … around the conduct of the casino are not there to be applied on a ‘best endeavours’ basis,” he said. “They are the law. The licence is a privilege, not a right.”

    The responses tabled in parliament show Mr Harris and Treasurer Daniel Mookhey were informed of plans for Mr Crawford’s second inquiry on February 7.

    Star chief executive Robbie Cooke welcomed the inquiry last month, describing it as a chance to prove it has reformed culture enough to change the licence. If this is the case, its suspension will be lifted. Other options include extending Mr Weeks’ term as special manager or retiring him but maintaining the suspension – resulting in the casino shutting down. The worst-case scenario is that Star’s licence to operate is cancelled.
 
watchlist Created with Sketch. Add SGR (ASX) to my watchlist
(20min delay)
Last
51.0¢
Change
0.010(2.00%)
Mkt cap ! $1.463B
Open High Low Value Volume
50.5¢ 51.0¢ 50.0¢ $4.173M 8.244M

Buyers (Bids)

No. Vol. Price($)
15 864292 50.5¢
 

Sellers (Offers)

Price($) Vol. No.
51.0¢ 271534 12
View Market Depth
Last trade - 16.10pm 12/07/2024 (20 minute delay) ?
SGR (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.