Star Entertainment Group reported a statutory net loss of AU$307.3 million for the financial year ended 30 June, down from AU$428 million a year earlier. The Australian casino operator warned that material uncertainty remains over its ability to continue operating.
Normalised EBITDA loss narrowed to AU$16.1 million from AU$76 million, while revenue fell 2.2% to AU$1.1 billion. The third quarter marked the low point amid difficult trading conditions and tighter regulatory requirements. Corporate costs were cut 38% to AU$178 million following restructuring.
The Star Sydney saw gaming revenue drop 9.1% to AU$499.8 million as new rules in New South Wales took effect, including mandatory player card identification and cash restrictions. Property EBITDA fell 30.6% to AU$63.7 million. The Star Gold Coast posted gaming revenue growth of 3.2% to AU$256.4 million on slots strength, with EBITDA up 0.3% to AU$79.8 million.
Star collected AU$59.7 million in management fees from The Star Brisbane, including AU$10.2 million released from escrow after the sale of a 50% stake to Hong Kong partners. The company now receives AU$4.5 million a month for managing the property.
Bally's Corp and Investment Holdings Pty Ltd took control in November 2025, refinanced corporate debt and shifted to a property-focused operating model. Revenue in July rose 12% from the March quarter; Sydney and Gold Coast were up 6% year-on-year to AU$92.4 million. If the momentum holds, the current quarter will be the strongest since early 2025.
Risks include an AUSTRAC penalty over historical anti-money laundering failures and the return of licence suitability in Sydney.
