Star Entertainment FY25: Revenue down despite net loss recovery 

Key points:

– The Star Entertainment reported financial results for the 12-month period ending 30 June 2025

– Revenue fell 29.2% to AU$1.19bn

– Thanks to factors such as the Bally’s bailout, net loss reduced from AU$1.69bn last year to AU$472m

The Star Entertainment has released its financial results for FY25. 

In total, revenue for the 12-month period ending 30 June came to AU$1.19bn (US$780m), down 29.2% year-on-year, with an EBITDA loss of AU$77m, compared to a profit of $175m this time last year. What’s more, EDIT reported a loss of AU$142m, compared to an AU$54m profit last year. 

However, statutory net loss saw a significant recovery year-on-year, from AU$1.69bn last year to AU$472m for FY25. Several factors played a part in this, including changes to its senior debt facility, signing documents to exit its joint venture partnership with DBC and securing an AU$300m investment from Bally’s. The operator has also sold off non-core assets, such as its Sydney events centre and Treasury Brisbane Casino building,  

As of 25 August 2025, Star Entertainment holds AU$189m in available cash.  

Of course, The Star still faces some uncertainties. The Bally’s strategic investment, for example, has not been completed, and legal and regulatory results are still to be processed, including the suspension of its Gold Coast and Sydney licences.  

Comments 

Comments from Group CEO and Managing Director Steve McCann reflect these mixed results. He said: “I want to acknowledge the hard work and commitment of our team members in the face of the ongoing challenges of the group. While there remains work to be done, I note the significant progress that the group has made on its remediation journey to date and the implementation of regulatory reforms.

“The group has sourced additional funding to enable The Star to continue to provide thousands of jobs and support tourism and entertainment in the markets in which we operate.  

Good to know: In June 2024, The Star underwent executive restructuring, including hiring Jennifer Cronin as Interim CEO of The Star Gold Coast, Rowena Craze as Group Chief Risk Officer, Patrick McGlinchey as Group Chief Legal Officer and more 

“Our announcement today highlights a number of key interdependencies that are critical to the Group’s future. The Group continues to require significant support from a range of its stakeholders including governments, regulators, lenders and investors. Without that support it will be difficult to navigate the various challenges facing the Group and to create a sustainable future for the business.” 

Revenue by property 

Looking more specifically at The Star’s properties, Sydney generated revenue of AU$685m, down 21.9%, with an EBITDA loss of AU$47.7m and an EBIT loss of AU$86.3m.  

Gold Coast made AU$410.6m in revenue, down 10%, with an EBITDA of AU$21.8m and EBIT of AU$2.3m – making it the only property to report a positive EBITDA and EBIT – down 69.4% and 93.4% respectively.  

Treasury Brisbane made AU$62.3m in revenue, down 81.9%, with a negative AU$0.9m EBITDA and negative AU$6.6m EBIT.  

Finally, The Star Brisbane made AU$29.6m, with an EBITDA loss of AU$50.3m and EBIT loss of AU$51.3m.