{"id":777049048,"date":"2026-10-27T08:06:24","date_gmt":"2026-10-27T11:06:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777049048"},"modified":"2026-10-27T08:18:11","modified_gmt":"2026-10-27T11:18:11","slug":"star-entertainment-quarterly-ebitda-growth","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/star-entertainment-quarterly-ebitda-growth","title":{"rendered":"The Star returns to positive EBITDA as Sydney and Gold Coast grow"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The group\u2019s first-quarter FY27 results show improving performance across its owned casinos, while licence restrictions and going-concern uncertainties remain.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Key takeaways:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Star Entertainment Group recorded AU$12m in group EBITDA in Q1 FY27, compared with a AU$13m loss a year earlier.<\/li>\n\n\n\n<li>Consolidated revenue rose 2 per cent year-on-year to AU$284m for the three months ended September 30, 2026.<\/li>\n\n\n\n<li>The Star Sydney and The Star Gold Coast generated combined revenue of AU$279m, up 5 per cent year-on-year.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Australia.- <strong>The Star Entertainment Group<\/strong> returned to positive quarterly EBITDA in the first quarter of FY27, supported by revenue growth at its Sydney and Gold Coast casinos and continued cost reductions. However, the Australian operator cautioned that material uncertainties remain as it works to improve its financial position and address ongoing regulatory challenges.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In its unaudited quarterly activities report for the three months ended September 30, 2026, The Star reported <strong>consolidated revenue of AU$284m (US$199.5m)<\/strong>, up 2 per cent year-on-year and 8 per cent compared with the previous quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Group EBITDA<\/strong> reached AU$12m (US$8.4m). That&#8217;s an AU$25m (US$17.6m) improvement from the AU$13m (US$9.1m) loss recorded in the same period last year. The results reflect stronger performance at The Star Sydney and The Star Gold Coast, alongside lower unallocated corporate costs. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The two Star-owned properties recorded combined revenue of AU$279m (US$196m), up 5 per cent year-on-year and 9 per cent quarter-on-quarter. The Star said this was the first time they had achieved combined quarterly year-on-year revenue growth since the commencement of quarterly reporting obligations in September 2024.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Sydney and Gold Coast drive growth<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>Star Sydney<\/strong> generated revenue of AU$162m (US$113.8m), up 1 per cent year-on-year and 8 per cent from the previous quarter. Segment EBITDA reached AU$15m (US$10.5m), compared with AU$3m (US$2.1m) a year earlier and a AU$1m loss in Q4 FY26.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The operator attributed the improvement to the stabilisation of revenue and greater cost efficiency. Growth in electronic gaming machine revenue was partly offset by softer table games and non-gaming revenue, which was affected by increased complimentary investment and the completion of the sale of the Event Centre in September 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>Star Gold Coast<\/strong> delivered a stronger year-on-year performance, with revenue increasing 12 per cent to AU$117m (US$82.2m). Segment EBITDA rose 92 per cent to AU$20m (US$14.1m), compared with AU$11m (US$7.7m) in the prior-year period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company linked the improvement to electronic gaming machine revenue growth supported by increased marketing investment and promotional initiatives.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Combined EBITDA for the two owned properties reached AU$35m (US$24.6m), up 164 per cent year-on-year and 125 per cent quarter-on-quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Brisbane records growth at managed resort<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>Star Brisbane<\/strong>, which the group operates under a Casino Management Agreement with <a href=\"https:\/\/focusgn.com\/asia-pacific\/the-star-completes-exit-from-destination-brisbane-consortium\" target=\"_blank\" rel=\"noopener\">Destination Brisbane Consortium (DBC)<\/a>, generated AU$136m (US$95.6m) in revenue, up 14 per cent year-on-year and 12 per cent from the previous quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">EBITDAM, which measures EBITDA before The Star&#8217;s management fee charged to DBC, increased to a record AU$37m (US$26m), compared with AU$13m (US$9.1m) in Q1 FY26. However, The Star&#8217;s operator fee revenue from Brisbane fell 67 per cent year-on-year to AU$5m (US$3.5m), reflecting an amended Casino Management Agreement following completion of Stage 1 of the joint venture partnership transaction in March 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Treasury Brisbane continued to be classified as a discontinued operation, with no EBITDA recorded during the quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Casino licences remain under scrutiny<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Star&#8217;s casino operations continue to face regulatory oversight across its Australian properties. The<a href=\"https:\/\/focusgn.com\/asia-pacific\/star-sydney-licence-suspension\" target=\"_blank\" rel=\"noopener\"> Star Sydney&#8217;s casino licence<\/a> remains suspended, with the appointed manager&#8217;s term currently extending to June 30, 2027, unless terminated earlier by the NSW Independent Casino Commission.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The deferral of the suspension of <a href=\"https:\/\/focusgn.com\/asia-pacific\/the-star-gold-coast-licence-suspension-deferred-until-march-2027\" target=\"_blank\" rel=\"noopener\">The Star Gold Coast&#8217;s casino licence<\/a> and the special manager&#8217;s appointment currently extend to March 31, 2027. At The Star Brisbane, the external adviser&#8217;s appointment also runs until March 31, 2027.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company said it continues to engage with regulators and government authorities regarding the status of its licences.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Star added that, in consultation with its major shareholders, it is reviewing its operating strategy and resourcing structure. Its priorities include improving the customer experience, strengthening marketing efforts and reducing direct and indirect operating costs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br><\/p>\n\n\n<div id=\"see-also-container\">\n\t\t\t<span class=\"see-also-label\">See also:<\/span><\/p>\n<div class=\"related-article\">\n\t\t\t\t<img decoding=\"async\" class=\"related-article__thumbnail\" src=\"https:\/\/focusgn.com\/asia-pacific\/wp-content\/uploads\/sites\/5\/2026\/05\/bdbad19d-eea8-42bf-9e14-f525011bb975-300x200.jpg\" alt=\"\"><\/p>\n<p class=\"related-article__text\">\n\t\t\t\t\t<span class=\"see-also-label-strong\">See also:<\/span> <a href=\"https:\/\/focusgn.com\/asia-pacific\/star-entertainment-cuts-fy26-loss-to-us220m\">Star Entertainment cuts full-year 2026 loss<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The group\u2019s first-quarter FY27 results show improving performance across its owned casinos, while licence restrictions and going-concern uncertainties remain.<\/p>\n","protected":false},"author":226,"featured_media":777027982,"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 return to positive group EBITDA of AU$12m in Q1 FY27, driven by improved operational performance and revenue growth at its Sydney and Gold Coast properties. Despite this financial uplift, the Australian operator continues to navigate significant regulatory challenges, including the ongoing suspension of The Star Sydney's casino licence and broader going-concern uncertainties. The results highlight a complex interplay between operational recovery and persistent governance framework scrutiny.","focusai_entities":"The Star Entertainment Group, Destination Brisbane Consortium, NSW Independent Casino Commission","focusai_location":"Australia, Sydney, Gold Coast, Brisbane","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.88), operator_casino (0.92), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Impact on Valuation","query":"What is the projected financial impact of the ongoing licence suspension and regulatory conditions on The Star Entertainment Group's long-term valuation and capital structure, particularly concerning its ability to secure future financing?"},{"label":"Operational Turnaround Drivers","query":"Beyond cost reductions, what specific operational strategies are driving the revenue growth in electronic gaming machines at Star Gold Coast and contributing to the group's positive EBITDA, and are these sustainable under current regulatory constraints?"}],"footnotes":""},"categories":[16336,163],"tags":[289,24619,24103],"class_list":["post-777049048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-australia","tag-finance","tag-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777049048","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=777049048"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777049048\/revisions"}],"predecessor-version":[{"id":777049060,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777049048\/revisions\/777049060"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777027982"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777049048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777049048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777049048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}