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Industry
February 19, 2024
The Star Entertainment Faces Bell Two Investigation
The Star Entertainment Group, Australia’s iconic ASX-listed group that owns and operates The Star Sydney, The Star Gold Coast, and Treasury Brisbane has announced it faces a second inquiry into its suitability to hold on to a casino license. At the moment, the group has six critical months to prove that it is capable of […]
Casino
September 12, 2023
The Star to Benefit from Konami Technology Thanks to New Deal
The premium casino operator in Australia, The Star Entertainment Group, announced it extended its partnership with Konami Gaming, the renowned provider of casino gaming and systems technology. The extended and expanded deal, announced Tuesday, sees the duo continue to collaborate together since their initial agreement dating back to 2008. Extending their long-term partnership marks a […]
Business
August 29, 2023
The Star Posts FY23 Results, Sees Net Loss of AU$2.44bn
The Australian gambling and entertainment company, The Star, released its FY23 financial report, revealing a normalized EBITDA and significant statutory loss for the period. The report emerged Tuesday and sees the company post a statutory net loss of AU$2.44 billion ($1.57 billion). At the same time, the latest financial report reveals that normalized EBITDA hit […]
Legal
August 2, 2023
Brisbane Court Issues $92K Fine against The Star
The leading Australian casino operator, The Star, was hit with a hefty fine over breaches of the gambling regulation dating as far back as 2017. On Wednesday, the Brisbane Magistrates Court sentenced the company to pay a fine of AU$140,000 ($92,100) along with court costs of AU$3,250 ($2,100). The court heard that the company had […]
Industry
June 20, 2023
The Star Entertainment Criticizes NSW Casino Duty Rates
Late last year, the former Treasurer of New South Wales (NSW), proposed a change to the taxation for casino operators, pushing for an increase in casino duty rate. Although it wasn’t implemented, the proposal stuck around with the lawmakers following the recent election in NSW. In light of discussions with the local government for the […]
Industry
April 19, 2023
The Star May Slash Approximately 500 Workplaces
The Star Entertainment Group, the leading entertainment and gambling company in Australia, released a new trading update, confirming the possibility to reduce its workforce. On Wednesday, the company revealed it plans to cancel its short-term and other incentives for FY23, while at the same time freezing salaries for non-EBA (enterprise bargaining agreement) employees. What’s more […]
Business
February 23, 2023
The Star Reports Loss in H1 FY23, Plans to Raise Equity
Australian entertainment and gambling company The Star Entertainment Group released its H1 FY23 results acknowledging net loss and plans for equity raising. The company’s gross revenue for the period was AU$1.01 billion ($689.1 million), while normalized EBITDA was AU$200 million ($136.4 million) and net profit was AU$44 million ($30 million) for the six months until […]
Industry
February 20, 2023
The Star Gives a Sneak Peek into Its Sky Deck at Queen’s Wharf Brisbane
Australian casino giant The Star Entertainment Group has teased fans, industry enthusiasts and competitors with a sneak peek into its Sky Deck at Queen’s Wharf Brisbane property. The company, which believes that the venue will soon become one of the most photographed spots in the city, shared a timelapse video of the development, alongside some […]
Legal
February 17, 2023
Workers Union Blasts NSW Proposal to Increase Taxes for Pokies
Amid the review of The Star Entertainment’s NSW and Queensland operations, a new proposal calls to increase the tax rate for the company’s NSW location. The new proposal calls to increase the tax rate to nearly 61% for the poker machines within casinos. The change, if approved, is expected to be implemented starting in July […]
Business
February 13, 2023
Preliminary Results Predict 1% Revenue Drop for The Star in H1 FY23
The operator released its unaudited results for H1 FY23, revealing strong performance but an overall drop in revenue. The Star explained that for H1 FY23, the domestic revenue of The Star Gold Coast increased by 30% when compared to the corresponding period pre-COVID or H1, FY19. This result marked an achievement for the company as […]
