Star Entertainment Group Narrows FY26 Statutory Loss to AU$307.3 Million as July Revenues Show Early Growth

Star Entertainment Group recorded a statutory net loss of AU$307.3 million (US$220 million) for the year ended 30 June 2026. The result improved on the AU$428 million (US$307 million) loss from the prior year. Normalized EBITDA loss narrowed to AU$16.1 million (US$11.5 million) from AU$76 million (US$54.5 million).

Group corporate costs declined 38% to AU$178 million (US$128 million) after a review of resourcing structure, operating model and strategic priorities. Normalized revenue fell 2.2% to AU$1.1 billion (US$788 million).

Property Performance Details

Gaming revenue at The Star Sydney declined 9.1% year-on-year to AU$499.8 million (US$358 million). Property EBITDA fell 30.6% to AU$63.7 million (US$45.6 million). The Star Gold Coast delivered gaming revenue growth of 3.2% to AU$256.4 million (US$184 million), with property EBITDA up 0.3% to AU$79.8 million (US$57.2 million).

Star generated AU$59.7 million (US$42.8 million) in operator fee revenue from The Star Brisbane. This included AU$10.2 million (US$7.3 million) released from escrow in March after completion of the first stage of the joint venture that saw the company offload its 50% stake.

Stabilization Signals and Material Uncertainty

Combined July revenue at The Star Sydney and The Star Gold Coast rose 6% year-on-year and 8% on fourth-quarter averages to AU$92.4 million (US$66.2 million). Group-wide July revenue was 12% higher than the March 2026 low point. The company stated that should the trend continue, the current quarter would achieve the highest average monthly revenues since the second quarter of 2025.

Group CEO and Managing Director Bruce Mathieson Jnr said, “We have moved to a more accountable, property-led operating model and a renewed focus on performance, customers and responsible operations.” Following the November 2025 acquisition of a controlling stake by Bally’s Corp and Investment Holdings Pty Ltd, the company has refinanced its corporate debt and maintained a strong liquidity position.

Charles Diao, Star’s Group Chief Financial Officer and Interim Group Chief Risk Officer, said, “Through the completion of various financing and strategic transactions, along with critical operational improvements implemented by new leadership, The Star is materially improved in its financial position and risk posture.”

As reported by Inside Asian Gaming, material uncertainty remains around the group’s ability to continue as a going concern. Key factors cited include a looming AUSTRAC penalty for historical AML failures, execution of further revenue growth and cost savings, and a return to license suitability in Sydney.

Reporting: Inside Asian Gaming

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