Star Entertainment Steadies on Gold Coast Revenue Growth in June 2026 Quarter

In a July 24th filing, Star said June-quarter revenue slipped to AU$265 million from AU$270 million a year earlier, even as its underlying loss improved from a AU$27 million EBITDA loss in the year-ago period. 

Star Entertainment Narrowed Losses

Australia’s Star Entertainment Group fell to an AU$8 million (US$5.6 million) EBITDA loss in the three months to 30 June 2026, significantly improved from the AU$27 million (US$18.9 million) loss reported a year earlier but widened from the AU$1 million (US$698,300) loss the company booked in the March quarter.

With revenue coming in essentially flat both year-on-year and quarter-on-quarter at AU$265 million (US$185 million), the quarterly performance reflects a more stable operating performance at The Star Sydney and improvement at The Star Gold Coast, the company explained. However, noted that Sydney revenue continues to be constrained by recently introduced regulations with average daily revenue down 20% since the introduction of mandatory carded play and an AU$5,000 (US$3,491) daily cash limit in October 2024.

According to Star, revenue at The Star Sydney fell 7% year-on-year but improved by 2% sequentially in the June quarter to AU$150 million (US$105 million), with a segment EBITDA loss of AU$10 million (US$7.0 million). This reflected softness in table games and non-gaming but strong growth in electronic gaming machines.

At The Star Gold Coast, revenue grew 6% year-on-year and 12% quarter-on-quarter to AU$107 million (US$74.7 million) – with segment EBITDA improving significantly to AU$13 million (US$9.1 million) – on a 21% increase in gaming revenue, driven by both table games and EGMs. Star also collected an AU$3 million (US$2.1 million) management fee for The Star Brisbane during the quarter.

On recent cost saving initiatives, which have included slashing staff numbers in the corporate office, Star explained that total operating expenses fell 11% year-on-year to AU$206 million (US$144 million), although lower corporate costs of AU$6 million (US$4.2 million) were offset by increased marketing investment and seasonally higher operational labor costs.

Nevertheless, Star said its liquidity as of 30 June 2026 included total cash and cash equivalents of AU$267 million (US$186 million), improved from AU$120 million (US$83.8 million) at 31 March 2026 following the recent completion of refinancing via Whitehawk Capital Partners.

Refinancing was one of a series of key initiatives

That refinancing was one of a series of key initiatives undertaken by the company since being acquired by Bally’s Corp and Investment Holdings Pty Ltd last year aimed at keeping the company afloat. These initiatives also included the sale of Star’s 50% stake in Destination Brisbane Consortium (DBC) – owner of The Star Brisbane.

Star, which completed the first stage of the transaction to sell its DBC interests to Hong Kong partners Chow Tai Fook and Far East Consortium in April, said in Friday’s ASX filing that it expects to satisfy conditions precedent related to the second and final stage in the second half of this year and by no later than 31 March 2027.