Australia’s Star Entertainment Group says it is starting to see some impact from recent cost saving initiatives implemented by its new ownership group, although the company still reported an AU$1 million (US$718,700) EBITDA loss in the three months to 31 March 2026.
In a filing, Star said its revenue for the quarter fell 12% compared with the December 2025 quarter to AU$266 million (US$191 million), with the EBITDA loss reversing an AU$6 million (US$4.3 million) profit reported for that December quarter.
Star did, however, note that this was in part due to seasonal softness, as well as lower gaming visitation at The Star Sydney.
Compared with the same quarter in 2025, EBITDA loss narrowed by 96% from the AU$24 million (US$17.3 million) loss reported a year ago. Revenue was “marginally lower” than the March 2025 quarter.
Star has recently announced a series of initiatives seen as vital to its ongoing survival, including the entering into of a binding commitment letter with WhiteHawk Capital Partners around refinancing and similarly entering into binding long form documentation with its Hong Kong partners to offload its 50% stake in The Star Brisbane. The company has also slashed its corporate office from over 600 staff to around 150.
Star added in the Tuesday morning filing that “Other initiatives, including with respect to administrative functions at each property and opportunities to reduce indirect costs and supplier expenses, continue to be explored to support long term financial success of The Star, and to further strengthen the Group’s financial position.”
Nevertheless, it reiterated the fact that, “The Star’s ability to continue as a going concern remains dependent on the outcome of numerous material uncertainties, some of which are interdependent and outside The Star’s control.“
Star said it had AU$90 million (US$64.7 million) in available cash as of 31 March 2026.
RelatedPosts
