Star Entertainment CEO cancels Macau trip following Crown arrests
Chief Executive Matt Bekier decided to stay in Australia to address questions from major investors about the impact of the detainments, a Star spokesman said, adding that the cancellation was not due to security concerns and that the visit would be rescheduled.
The detainment of 18 Crown staff, three of whom are Australian nationals including its head of international VIP gambling, has been widely seen as a crackdown on gambling and has sparked major concern about the impact on local casinos which rely on wealthy Chinese gamblers.
Crown said on Thursday that no charges had been laid against its staff.
““Shares in Crown have tumbled 18 percent since last week in the wake of the detainments, while shares in Star Entertainment are down 12 percent
”
New Zealand casino company Skycity Entertainment Group Ltd has seen its stock plunge 19 percent after warning that its business was likely to be adversely affected by the arrests.
Bekier makes quarterly visits to Hong Kong to see the company's joint venture partners, Chow Tai Fook and Far East Consortium International Ltd, the spokesman said.
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