Group-wide gross revenue fell 29 per cent year-on-year<\/strong> to AU$581m (US$418m) while EBITDA declined 87 per cent to AU$31m (US$22.3m).<\/p>\n\n\n\nAs for VIP gaming, the report shows an 89 per cent decline to AU$1.8m (US$1.3m), while domestic gaming revenue fell 24.3 per cent to AU$498m (US$358.3m). There was a slight increase in non-gaming revenue to AU$8.5m (US$6.1m).<\/p>\n\n\n\n
The Star Sydney<\/strong>, which was closed from the start of the Australian financial year on July 1 until October 11 reported AU$239m (US$171.4m) in revenue for the period, down 39 per cent year-on-year, and an EBITDA loss of AU$25m. However, the company did note that revenue climbed 28 per cent upon October’s reopening.<\/p>\n\n\n\nThe Star Gold Coast<\/strong> reported revenue of AU$180m (US$129m), up 5 per cent from the prior-year period, with EBITDA falling 50 per cent to AU$26m (US$18.6m). As for Treasury Brisbane<\/strong>, revenue fell by 11 per cent to AU$161m (US$115m), with EBITDA down 57 per cent to AU$29m (US$20.8m).<\/p>\n\n\n\nThe Star Entertainment Group chairman John O\u2019Neill<\/strong> said: \u201cThe group continued executing its strategy well in the context of the extraordinary Covid-19 related challenges. The fundamental earnings prospects for The Star\u2019s domestic business remain attractive.<\/p>\n\n\n\n\u201cThey are underpinned by valuable long-term licences in compelling locations while the transformation of our properties into globally competitive integrated resorts is nearing completion. The Star remains committed to maintaining a balance sheet that positions the group for the post-Covid-19 recovery.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Star Entertainment Group was heavily impacted by property closures and capacity restrictions due to Covid-19 in the six months ending December 31.<\/p>\n","protected":false},"author":226,"featured_media":25559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Star Entertainment Group reported a net loss of AU$74m for the six months ending December 31, with group-wide gross revenue declining 29% and EBITDA falling 87%. These significant financial impacts were primarily driven by extensive COVID-19 property closures and capacity restrictions, particularly affecting The Star Sydney and the VIP gaming segment. Despite the operational challenges, the company remains committed to its integrated resort transformation strategy and maintaining a robust balance sheet for post-pandemic recovery.","focusai_entities":"Star Entertainment Group, The Star Sydney, The Star Gold Coast, Treasury Brisbane, John O\u2019Neill","focusai_location":"Australia, Sydney, Gold Coast, Brisbane","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Post-COVID Recovery Outlook","query":"What specific operational efficiencies or market diversification strategies is Star Entertainment Group implementing to mitigate future pandemic-related disruptions and accelerate post-COVID-19 recovery beyond property reopenings?"},{"label":"Capital Structure Impact","query":"How will the reported net loss and significant EBITDA decline impact Star Entertainment Group's capital structure, debt covenants, and its capacity to fund ongoing integrated resort development projects?"}],"footnotes":""},"categories":[16336,163,158],"tags":[289,1295],"class_list":["post-27342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","category-slider-home","tag-australia","tag-star-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27342"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27342\/revisions"}],"predecessor-version":[{"id":27349,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27342\/revisions\/27349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25559"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}