Star Entertainment reports AUD284 million first-quarter revenue

The Star Entertainment Group reported revenue of AUD284m for the three months ended 30 September 2026, the first quarter of its 2027 financial year, up 2% year on year and 8% quarter on quarter, according to the company's results. Group EBITDA was AUD12m, against EBITDA losses of AUD13m in the first quarter of the 2026 financial year and AUD9m in the fourth quarter of that year.

The Star Sydney recorded revenue of AUD162m, up 1% year on year, and EBITDA of AUD15m. The Star Gold Coast reported revenue of AUD117m and EBITDA of AUD20m, improvements of 12% and 92% respectively. The Star said both properties recorded revenue growth for the first time since it began publishing quarterly reports in September 2024. The Star Brisbane posted EBITDAM of AUD37m, which the company said was a record, and unallocated corporate costs were AUD23m.

The Star had AUD239m in cash and cash equivalents as of 30 September 2026. The company said it maintains sufficient liquidity and continues to improve operations, and that it expects the 2027 financial year to be the first in more than two years in which it generates net annual operating cash inflows, before one-off items. The Star said its business improvements depend on a number of uncertainties and that it will provide an update on matters that may affect its business in its first-half 2027 report.

The casino licence for The Star Sydney is still suspended, and the suspension affecting The Star Gold Coast has been deferred through 31 March 2027. Regarding its remediation efforts, The Star reported that during the quarter it relocated a range of key customer-facing operations into its properties and worked on strengthening workplace culture, while continuing to pursue additional ways to cut costs. These results come after a AUD260m penalty was levied against The Star for systemic anti-money laundering failures spanning 2016 to 2022.