Key facts
- Star Entertainment swung to a first-quarter profit of A$12 million, a turnaround from a loss of A$13 million a year earlier.
- First-quarter consolidated revenue rose 2% to A$284 million, with Sydney and Gold Coast casinos contributing over 98%.
- The company held A$239 million in cash and cash equivalents as of September 30.
- Sydney casino's license remains suspended, with manager appointment extended to June 30, 2027.
Star Entertainment, an Australian casino operator, reported a first-quarter profit of A$12 million, a significant turnaround from a loss of A$13 million in the same period last year. This improvement was driven by cost-cutting measures and strong revenue generation from its Sydney and Gold Coast operations, which together accounted for over 98% of the A$284 million in consolidated revenue for the three months ended September 30. The company maintained A$239 million in cash and cash equivalents as of September 30, while continuing its operational improvement efforts. Star reiterated that its Sydney casino's license remains suspended, with the manager's appointment extended until June 30, 2027.