Tag Archives: Star Entertainment
Australia – Star Entertainment posts a net loss of A$74m
With the Star Sydney recording strong revenue growth upon re-opening on October 11 2021 with revenue up 29 per cent, Australian casino group, The Star Entertainment managed to post a net loss of A$74m, down from a profit of A$64.2 a year earlier. Chairman John O’Neill AO said: “The Group continued executing its strategy well…
Australia – Star tops out on first tower of Star Gold Coast’s AU$2bn masterplan
Star Entertainment Group has completed the build of its first tower as it looks to redevelop its Star Gold Coast as part of its AU$2bn masterplan to build a world-class resort similar in size to Las Vegas Sands’ Marina Bay Sands in Singapore. The AU$400m, 53-storey tower is 178 meters tall and will be home…
Australia – Star back in profit but confirms asset sales and sell and lease back on Sydney casino
Australian casino group Star Entertainment has swung back to full-year profit but has confirmed it has been selling some non-core assets to survive the effects of COVID-19 and that it has also started the process of selling half of its Sydney casino and getting it back on lease. It is planning on selling a VIP…
Australia – Crown rejects Blackstone offer but asks for more info from Star
Australian casino operator Crown Resorts has rejected a takeover bid from private equity and hedge fund group Blackstone, due to the offer undervaluing its assets and earnings potential but the door remains open to the merger proposal from Australian competitor Star Entertainment. Crown said: “The Board has carefully considered the revised proposal, [from The Blackstone…
Australia – Star highlights improved trading in Brisbane and the Gold Coast
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…
Australia – Star’s half year down 30 per cent but normality on the horizon
Fluctuating spatial distancing requirements and other COVID-19 related health orders constrained domestic visitation at Star Entertainment’s three Australian casinos, particularly in Sydney, while international border closures have substantially reduced the International VIP Rebate business with turnover down 96.9 per cent. Net statutory revenue of $741.4m was down $312.3m or 29.6 per cent on the prior…
Australia – Star Sydney allowed to welcome more guests with face masks no longer needed
Star Entertainment will be able to let 10,000 people into its Sydney casino following a loosening of COVID restrictions by the New South Wales government which will also see customers now no longer needing to wear face masks. Matt Bekier, Managing Director and Chief Executive Officer, said: “The Star Entertainment Group references the NSW Government’s…
Australia – Star gets green light for second tower at The Star Gold Coast
The Star Entertainment Group has confirmed another $400m development project for South East Queensland (SEQ) with a “Tower for Tourism” to start construction on the Gold Coast in the next few weeks. The ASX Top 100 company and its joint venture partners have approved the latest addition to The Star Gold Coast integrated resort development…
Australia – Queen’s Wharf Brisbane remains on track to transform Queensland’s tourism
The Star Entertainment Group’s CEO Matt Bekier has said that the ‘fundamentals remain in place for Brisbane to become one of the world’s most sought-after tourism destinations’ once the $3.6bn Queen’s Wharf project opens. The Star Entertainment Group is lead partner in Destination Brisbane Consortium, the joint venture delivering the transformational development which will create…
