Tabcorp Holdings Limited (TAH) said chief executive of Casinos, Walter Bugno, had resigned from the company. The gaming group said a global search for a candidate with significant casino experience was underway.

Mr Bugno, 48, was chief executive Casinos for almost three years, and resigned to pursue a new business opportunity based in London.

Chief executive officer Elmer Funke Kupper said Mr Bugno would continue to lead the Casinos Division over the coming months to ensure a smooth transition process and would leave the company in early 2009.

„Walter has made a valuable contribution to Tabcorp,“ Mr 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.“

Mr Kupper said Mr 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.

Mr 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,“ Mr Bugno said.

„I now look forward to moving to Europe to fulfil a life-long ambition of starting up a new business venture.“

Tabcorp owns Star City, Conrad Jupiters on the Gold Coast, Conrad Treasury in Brisbane and Jupiters Townsville.