Key points
- Net revenue declined 2% to $1.1 billion due to a 5.3% drop in gaming revenue
- EBITDA loss improved by 78.9% to $16.1 million
- No dividend declared for FY2026
- Significant items included GST dispute settlement and debt refinancing costs
- The Star Sydney's Table Games segment faced challenging trading conditions
Full summary
The Star Entertainment Group Limited released its FY2026 Annual Report, detailing financial results and operational updates. The company reported a net revenue decline of 2% to $1.1 billion, primarily driven by a 5.3% decrease in gaming revenue, particularly in The Star Sydney's Table Games segment. The EBITDA loss improved by 78.9% to $16.1 million, while the statutory net loss after tax was $307.3 million, a 28.2% increase. The company did not declare a dividend for the financial year. Significant items included a $55.9 million settlement of a GST and withholding tax dispute, $36.2 million in reorganisation and employment costs, and $25.4 million in regulatory and legal costs. The company also completed the first stage of its Joint Venture Partnership Transaction, exiting its interest in Destination Brisbane Consortium, with the second stage expected to complete by March 2027.
Guidance
FY2026 net revenue $1.1 billion, EBITDA loss $16.1 million
Outlook
The Star Entertainment Group is focused on improving operating performance, returning to suitability for casino licenses, and enhancing customer engagement. The company expects to complete the second stage of its Joint Venture Partnership Transaction by March 2027.