Sunday, September 20, 2020
Home Business On line casino group Star awards government bonuses whereas pocketing JobKeeper

On line casino group Star awards government bonuses whereas pocketing JobKeeper

On line casino group Star Leisure has handed its prime executives $1.Four million price of bonuses regardless of lacking their annual monetary targets whereas pocketing $9.6 million in Jobkeeper subsidies to cowl employees wages.

The Star revealed on Wednesday it paid its chief government Matt Bekier $2.Three million for the 2020 monetary yr, down from $3.Three million a yr earlier and $4.Four million in 2018.

The Star Casino in Sydney was forced to close due to the COVID-19 pandemic.

The Star On line casino in Sydney was compelled to shut because of the COVID-19 pandemic. Credit score:Louise Kennerley

Mr Bekier’s base wage fell by $173,000 to $1.55 million after he took a 40 per cent pay lower when COVID-19 compelled the group to close its casinos in Sydney, Brisbane and the Gold Coast and stand down 95 per cent of its 9000 employees.

However Star awarded Mr Bekier a bonus of $829,872 in deferred shares amongst $1.Four million given to the group’s prime 5 executives, in line with Star’s annual report. The bonuses have been paid in fairness to “protect money” and be out there after a yr if the executives stick with the corporate, the report says.

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