The Star Entertainment Group reported a smaller quarterly loss and steady revenue in its unaudited results for the three months ended June 30, 2026, as the embattled Australian casino operator continues efforts to stabilize its financial position. The company said cost‑reduction measures and improved performance across its properties helped narrow its EBITDA loss, though significant uncertainties remain.
EBITDA Loss Shrinks on Cost Controls and Operational Improvements
The Star posted AUD 265 million ($185.3 million) in revenue for the fourth quarter, a figure largely unchanged from the prior quarter. Its EBITDA loss fell to AUD 8 million ($5.6 million), a 70% improvement from the AUD 27 million ($18.9 million) loss recorded a year earlier.
Management attributed the reduced loss to several factors, including stabilized trading at The Star Sydney, stronger volumes at its Gold Coast property, and a lower operator fee for The Star Brisbane. The company said ongoing cost‑saving initiatives continue to deliver meaningful results.
The Star also highlighted progress on its strategic restructuring. It completed the first phase of its exit from the Destination Brisbane Consortium (DBC) following the signing of binding long‑form documentation with joint‑venture partners in August 2025.
In May, the company refinanced its debt through a $390 million secured term loan due in 2029 from WhiteHawk Capital Partners. After the refinancing, available liquidity stood at AUD 130 million ($90.1 million). As of June 30, 2026, The Star reported AUD 267 million ($186.7 million) in available cash.
Company Cautions That Material Risks Remain
Despite the improved quarterly performance, The Star said its long‑term outlook is still subject to several material uncertainties, some of which fall outside its control. The company noted that additional cost‑cutting and supplier‑expense reductions are being explored, but emphasized that its ability to continue as a going concern depends on the resolution of key outstanding matters.
The Star warned that several issues could affect future financial performance and said there is no assurance these matters will be resolved before the release of its audited full‑year financial statements.
The company has faced years of regulatory scrutiny, operational challenges, and financial strain, and while Q4 showed signs of stabilization, management acknowledged that the path forward remains complex.
