The Star Entertainment Group has strengthened its board with the appointment of two new Non-Executive Directors and the nomination of a third, as the casino operator continues its governance reforms following a challenging financial year.
Brooke Lindsay and Grant Bowie have officially joined the Board after receiving all required regulatory and ministerial approvals. Their appointments increase the proportion of independent directors to 50% of the board.
The company has also appointed Donna Isaacs as a Non-Executive Director, subject to the same approvals. Until then, she will serve as a board observer before formally joining as an additional independent director. Once her appointment is completed, independent directors are expected to form a majority of the board.
Isaacs brings experience in financial markets, risk management and governance, having previously worked in money markets with Mitsubishi Trust, Australia Bank and Macquarie Bank before moving into philanthropic and community leadership through the Isaacs Family Foundation. The Star said her background in finance, compliance and stakeholder engagement would further strengthen the board's oversight capabilities.
The appointments come just days after The Star released its FY26 financial results, reporting a statutory net loss of AU$307.3m (US$220m). Although the result marked an improvement from the AU$428m loss recorded in FY25, the company continues to face difficult trading conditions and ongoing regulatory challenges.
Normalized revenue declined 2.2% year over year to AU$1.1bn, while the normalized EBITDA loss narrowed significantly to AU$16.1m from AU$76.2m a year earlier. Recent operational initiatives helped drive growth in slot revenue across the group's properties and reduce corporate overheads, although table games performance at The Star Sydney remained weak.
The operator also completed a US$90m refinancing with WhiteHawk Capital Partners in May, extending its secured debt maturity to 2029 and increasing available liquidity by approximately AU$130m. As of June 30, The Star held AU$267m in cash and cash equivalents.
Despite these improvements, the group's auditors continued to highlight material uncertainty over its ability to meet financial obligations over the next 12 months, citing the pending AUSTRAC penalty, liquidity requirements and the importance of regaining suitability for its Sydney casino licence.
Separately, Bally's, The Star's largest shareholder, has recently warned that it may require asset sales or additional financing to meet its own debt obligations, adding further uncertainty to the operator's long-term recovery.
The appointments come as The Star continues efforts to regain regulatory suitability and strengthen corporate governance
