Published
Land-BasedFinancialIndustry

Star Entertainment annual revenue rises

Australian casino operator Star Entertainment Group grew its revenue 6% to A$2.6bn ($1.9bn) for the year up to 30 June .

star sydney

Normalised net profit rose 20% to A$258m, while statutory profit improved by 44% to A$148m. Normalised EBITDA increased 14% to A$588m, as statutory EBITDA dropped by 19% to A$484m, which is attributed to a lower win rate.  

The boost in revenue and net profit figures are partially down to the return of VIP players to Australian casinos, as VIP turnover grew 54% to A$61.2bn, with revenue of A$827m, an increase of 52%.

In Sydney, gross revenue grew 3% to A$1.88bn, up 17.5%, while EBITDA increased 28% to A$410m, although real EBITDA declined 29%, impacted again by the low win rate in 2018.

Stars Entertainment Chairman and Non-Executive Director John O’Neill said: “The group completed a further year delivering on our growth strategy.

“Record normalised revenues and earnings for the company in FY2018 reflect ongoing operational improvements across the group and early performance benefits from new and upgraded assets at the Gold Coast and Sydney.”

 

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...