Super Group (SGHC) Limited, a leading betting and gaming company, has recently announced the resignation of John Collins from its Board of Directors, effective 31 December 2023. Collins’s decision to step down relates to his investment in a National Hockey League (NHL) team. However, Super Group stressed that the two parties did not have any disagreements regarding the company’s practices.

The Departure Should Not Affect Current Operations

Collins is currently the chairman of the Nominating and Corporate Governance Committee of the Board and a member of the Audit Committee of the Board. Jonathan Jossel, who joined the company in May 2022, will take up the former position, ensuring Super Group can maintain its operations without disruptions.

Collins has been an integral part of Super Group’s growth and an influential figure during a year marked by significant development for the company. His departure comes at a time of impressive growth. In its recent third-quarter report, Super Group disclosed revenue of €356.9 million ($381.4 million), a notable 16% year-on-year increase.

The company attributed this growth to its expanding operations in Europe, North America, Africa, and the Middle East, despite declines in markets like South/Latin America and Asia-Pacific. Neal Menashe, CEO of Super Group, highlighted the remarkable third-quarter revenue, record monthly active customers, and predicted further expansion within the global iGaming sector for the company.

Collins Will Leverage His Sports Management Expertise

Collins’s decision to step down from his position on the Super Group board likely stems from his increasing focus on his interests within the NHL. He joined the New York Islanders ownership group in July 2023 as the Operating Partner for the Club. Collins’s rich history within the League shows his enduring dedication to the sport, and he will likely continue with his contributions.

Collins is more than qualified for his management position with the Islanders, drawing on his experience as COO of the National Hockey League, President and CEO of the Cleveland Browns, and a senior executive at the National Football League for fifteen seasons. He has been responsible for some pioneering developments within the NHL, and his business acumen will be invaluable to the team.

Collins’s decision to focus on his involvement in the NHL marks a transition for Super Group, which continues its trajectory of growth and expansion in the dynamic betting and gaming industry. While Super Group loses a seasoned industry veteran, it has the talent to ensure enduring success. Meanwhile, Collins is now free to pursue his priorities.

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Wharton’s decision to leave Star leaves the operator leaderless amidst ongoing anti-money laundering reforms, up to $1 billion in fines, several lawsuits, and a potential tax hike on the horizon. As the person responsible for restoring order and compliance to the struggling casino, his departure has caused substantial concern among regulators. However, Star Entertainment CEO Robbie Cooke remained unfazed, promising the group would soon appoint a new Sydney CEO.

The Star Sydney chief executive will officially resign on 28 April to assume a new position as CEO of salary packaging company Smart Group. His departure came out of the blue for the beleaguered operator, as Wharton stepped away from the struggling operator after only eight months in charge.

The Star Sydney CEO was the primary driving force behind the ongoing remedial measures at the Sydney casino, heading the company’s transformation division. The company struggles to rescue its reputation and remain afloat after last year’s regulatory probe revealed severe AML failings and possible ties to terrorist organizations.

As a stopgap measure, Star Entertainment CEO Robbie Cooke plans to split Wharton’s responsibilities, delegating his remediation duties to current general manager of transformation Nicola Burke. She is well-acquainted with the position’s requirements and will be hard-pressed to navigate the ongoing regulatory challenges.

The board and the management team have an unwavering focus on proving our suitability to hold casino licenses in NSW and Queensland.

Robbie Cooke, Star Entertainment CEO

Wharton thanked The Star team for their commitment and hard work, extending special gratitude to the company’s leadership. CEO Cooke remained confident that the group would soon find a new Sydney chief executive and continue its long way toward redemption. However, Wharton’s departure leaves a void during a short but possibly critical period for the operator due to a looming taxation overhaul.

The Star Continues To Struggle With Poor Financials

Wharton was one of the people involved in the discussions regarding a potential new tax increase for poker machines which could significantly impact The Star’s bottom line. NSW Premier Chris Minns did not take a firm stance on the matter, preferring to first get a clearer picture of the tax hike’s implications before committing to a specific course of action.

We’ll be having discussions with the Treasury in the coming days as we get a full picture of the revenue side of the budget and future policy measures.

Chris Minns, NSW Premier 

With trouble looming on all sides, the company finds itself hard-pressed to find a competent replacement for the departing CEO. Financially, The Star Sydney continues to reel from the ongoing turmoil, as rising competition caused FY22 domestic revenue to lag 14% behind pre-COVID levels. The operator hopes that extra funding, like the recent AUD142 million ($96 million) investment from tycoon Bruce Mathieson, would help it stand back on its feet in the coming months.

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