Star Entertainment Group reported a statutory net loss of A$307.3 million for the fiscal year ended June 30, an improvement from the A$427.9 million loss in the prior year. The company’s normalized revenue declined 2.2% to A$1.10 billion, reflecting a 5.3% drop in gaming revenue, primarily due to weaker table game performance at its Sydney casino.
The group’s EBITDA loss before significant items narrowed to A$16.1 million from A$76.2 million in the previous year. Shares fell 1.9% to A$0.128 by 00:47 GMT following the announcement.
July trading showed a rebound, with combined revenue at Star Entertainment’s Sydney and Gold Coast properties rising 6% year-on-year to A$92.4 million. Revenue for the month was also 8% above the fourth-quarter monthly average, driven by strong slot machine performance.
The company highlighted ongoing uncertainties, including potential penalties from AUSTRAC, compliance with debt covenants, and the reinstatement of its casino licences.
