The Star reports 37% rise in domestic gaming revenue

By Peter Lynch

The Star Entertainment Group has announced that domestic gaming revenue for the period from 1 January 2021 to 3 May 2021 is up 37% on the prior comparable period.

However, in the period from 1 January 2021 to 3 May 2021, domestic gaming revenue was down 10% compared to the same period in 2H FY2019, with domestic revenue down 12%.

The announcement comes in conjunction with the release of a presentation at the Macquarie Australia Conference, an event where over 100 ASX-listed companies provide presentations on progress and development.

“Performance continues to be impacted by Covid-19 related operating restrictions, however, 2H FY2021 trading is exhibiting improving trends as the Covid-19 related operating restrictions are eased,” a statement from the company read.

The operator added that slots are up 3% across the group on the comparative period in 2H FY2019, while The Star Gold Coast has reported an 18% increase in domestic gaming revenue and an 11% increase in total domestic revenue. Both domestic gaming revenue and total domestic revenue in the group’s Brisbane facility meanwhile were up 3%.

But recovery in Sydney has been much slower, with The Star saying: “Sydney has lagged given the more onerous constraints on the operations of the property early in the period with domestic gaming revenue down 22% and total domestic revenue down 24% on the comparative period in 2H FY2019.”

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