Star casinos hit by border closures

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Border closures between Australian states and the pandemic social distancing materially affected the half-year results for operator Star Entertainment Group.

Reporting today, the group reveals revenue of A$742m (€477.6m) and EBITDA of A$226m (€145.4m). Despite the restrictions, however, slots revenue at its Gold Coast venue rose eight per cent and at Brisbane seven per cent, but at Sydney the domestic revenue was down 37 per cent to A$111m (€71.4m) and non-gaming revenue reduced by 64 per cent.

Overall trading at the Gold Coast showed EBITDA down 20 per cent to A$51m (€32.8m), driven by the absence of international business, although the slots performed well.

The group balance sheet shows that debt is reduced by A$151m (€97.2m) and early trading for the second half shows “positive demand conditions.” At Brisbane the overall EBITDA was up 29 per cent to A$68m (€43.7m) with revenue down three per cent.

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