Australian casino operator Star Entertainment Group , owner of casinos in Sydney, Brisbane and the Gold Coast, has said that ‘trading is exhibiting improving trends’ as the country eases its lockdown restrictions.
The company said: “Performance continues to be impacted by COVID-19 related operating restrictions, however, 2H FY2021 trading is exhibiting improving trends as the COVID-19 related operating restrictions are eased. In the period from January 1 2021 to May 3 2021, group domestic gaming revenue is up 37 per cent on the prior comparable period, noting that the prior period was impacted by property closures in late March. Group domestic revenue is up 35 per cent on the same period.
“In the period from January 1 2021 to May 3 2021, compared to the same period in 2H FY2019, group domestic gaming revenue was down 10 per cent and group domestic revenue was down 12 per cent. Slots are performing well, up three per cent across the group on the comparative period in 2H FY2019. The Gold Coast has been strong with domestic gaming revenue up 18 per cent and total domestic revenue up 11 per cent on the comparative period in 2H FY2019. Brisbane is performing well despite the shutdowns in January and March with both domestic gaming revenue and total domestic revenue up three per cent on the comparative period in 2H FY2019. Sydney has lagged given the more onerous constraints on the operations of the property early in the period with domestic gaming revenue down 22 per cent and total domestic revenue down 24 per centon the comparative period in 2H FY2019. VIP turnover remains negligible given the border closures.”