Revenue was now 15 per cent sequentially.<\/p>\n\n\n\n\n\n\n\n
Australia.-\u00a0The Star Entertainment Group<\/strong>\u00a0has shared financial results for the second quarter of its financial year. It posted\u00a0revenue of AU$299m (US$185.4m)<\/strong>, down 15 per cent sequentially<\/a>. Earnings before interest, taxes, depreciation and amortisation (EBITDA) were negative AU$8m (US$5m) compared to AU$18m (US$11.84m) in the previous quarter.<\/p>\n\n\n\n It company said the decline in revenue was mainly due to the closure of Treasury Brisbane Casino<\/a> and softness at The Star Sydney following the implementation of mandatory carded play and cash limits partially offset by revenue growth at The Star Gold Coast.<\/p>\n\n\n\n The\u00a0Star Sydney\u00a0<\/strong>revenue was AU$176m (US$109.1m), down 6 per cent sequentially and 23 per cent in year-on-year terms. EBITDA was negative AU$4m (US$2.5m) compared to negative AU$21m (US$13m) in the first quarter.\u00a0The\u00a0Star Gold Coast<\/strong> revenue was AU$111m (US$68.8m), down 7 per cent year-on-year but up 3 per cent compared to the previous quarter. EBITDA was positive at AU$11m (US$6.8m) but down 48 per cent yearly.<\/p>\n\n\n\n The company said: “Hospitality revenue was 7 per cent ahead of Q1 and 2 per cent up on the prior year, partially offset by a continuing softness in the underlying gaming performance, with revenue slightly below Q1 and 13 per cent below the prior year.”<\/p>\n\n\n\n Treasury Brisbane<\/a> posted revenue of AU$2m (US$1.2m) and negative EBITDA of AU$2m (US$1.2m).\u00a0The venue closed<\/a>\u00a0on August 25.\u00a0The Star Brisbane<\/a>, which commenced operations on August 29, brought in AU$10m (US$6.2m). EBITDA was negative AU$13m (US$8.1m).<\/p>\n","protected":false},"excerpt":{"rendered":" Revenue was now 15 per cent sequentially.<\/p>\n","protected":false},"author":176,"featured_media":26456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Star Entertainment Group reported a 15% sequential decline in Q2 FY revenue to AU$299m, resulting in negative AU$8m EBITDA. This performance was primarily attributed to the closure of Treasury Brisbane Casino and the operational impact of mandatory carded play and cash limits at The Star Sydney, partially offset by growth at The Star Gold Coast and the commencement of operations at The Star Brisbane.","focusai_entities":"The Star Entertainment Group, Treasury Brisbane Casino, The Star Sydney, The Star Gold Coast, The Star Brisbane","focusai_location":"Australia, Brisbane, Sydney, Gold Coast","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.88), operator_casino (0.92), investor_analyst (0.97), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Impact Analysis","query":"What is the projected long-term impact of mandatory carded play and cash limits on The Star Sydney's GGR and NGR, and how does this influence future capital allocation and operational expenditure?"},{"label":"Brisbane Transition Strategy","query":"How will the operational transition from Treasury Brisbane to The Star Brisbane impact the group's overall EBITDA margin, market share in the Queensland gaming vertical, and the timeline for achieving positive cash flow from the new venue?"}],"footnotes":""},"categories":[16336,157],"tags":[23907,23871],"class_list":["post-777022126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-land-based-casino","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022126","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777022126"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022126\/revisions"}],"predecessor-version":[{"id":777022150,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022126\/revisions\/777022150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26456"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777022126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}