Star Entertainment Group revenue continues to fall in Q3

Revenue was down 9 per cent quarter-on-quarter and 35.35 per cent year-on-year.

Australia.- The Star Entertainment Group has reported net revenue of AU$271m (US$173.8.) for the third quarter of the financial year 2025. Revenue was down 9 per cent sequentially and 35.35 per cent in year-on-year terms.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) were negative AU$21m (US$13.4m) compared to negative AU$8m (US$5.1m) in the previous quarter. The company said the results reflect “a seasonal softening in revenues, reduced levels of gaming visitation and the one-off impact of adverse weather events driving property closures in Queensland in March.”

The Star Sydney revenue was AU$161m (US$103.3m), down 8 per cent sequentially and 26 per cent in year-on-year terms. EBITDA was negative AU$9m (US$5.7m) compared to negative AU$4m (US$2.5m) in the second quarter. The company noted the impact of the implementation of mandatory carded play and cash limits in October 2024.

The Star Gold Coast revenue was AU$96m (US$61.5m), down 17 per cent year-on-year and 13 per cent compared to the previous quarter. EBITDA was positive at AU$2m (US$1.2m) but down 85 per cent from the previous quarter and down 90 per cent yearly. The company attributed the decline in revenue to softer trading conditions and the closure of the property for five days due to Tropical Cyclone Alfred.

Treasury Brisbane posted revenue of AU$10m (US$6.4m), with negative EBITDA of AU$13m (US$8.3m). The venue closed on August 25. The Star Brisbane, which commenced operations on August 29, brought in AU$4m (US$2.5m), but EBITDA was negative AU$1m (US$0.6m).

The Star reported its available cash as of March 31 as AU$44m (US$28.2m). Earlier this month, the casino operator announced that its largest shareholder, the Mathieson family’s Investment Holdings, had subscribed for AU$100m (US$60.5m) as part of a new AU$300m financing agreement with Bally’s Corporation. The move will reduce a new investment from Bally’s to AU$200m (US$121m).