The Australian gambling and wagering company Tabcorp Holdings Ltd has announced that it is on the look out for a senior executive to replace its head of casinos.
The present incumbent, CEO Walter Bugno, has resigned to pursue an unspecified new opportunity in London, and will leave the company in early 2009.
Tabcorp says it has already begun a global search for a replacement. "The search will target candidates with significant casino experience," the company said in a statement.
Bugno (48) has headed the casinos at Tabcorp arm for almost three years, with responsibility for operations at Star City, Conrad Jupiters on the Gold Coast, Conrad Treasury in Brisbane and Jupiters Townsville.
The properties attract more than 18 million visitors a year.
Tabcorp Chief executive officer Elmer Funke Kupper said Bugno would continue to lead the Casinos Division over the coming months to ensure a smooth transition process.
"Walter has made a valuable contribution to Tabcorp," Kupper said. "He has managed the Casinos Division through a turbulent period and has put in place the first building blocks to turn our casinos business into a world-class operation."
Kupper added that Bugno was integral to the signing of a new licence agreement with the New South Wales Government, which would allow Tabcorp to significantly expand Star City casino over the coming years.
Bugno said the transformation of the casinos business was now well under way and the expansion of Star City would start in early 2009. "The business is on the right track and I am pleased to have been part of the journey," he said. "I now look forward to moving to Europe to fulfil a life-long ambition of starting up a new business venture."