Star Entertainment returns to positive EBITDA

The casino operator has reported positive EBITDA for the second quarter of its financial year.

Australia.- The Star Entertainment Group has reported a return to positive EBITDA in its second quarter following losses in previous periods. It noted stabilising trading conditions and higher operator fee income from The Star Brisbane.

According to its unaudited quarterly activities report for the period ended December 31, 2025, the group posted revenue of AU$301m (US$212.17m), up 6 per cent quarter-on-quarter. EBITDA reached AU$6m (US$4.23m) before significant items. This compares with an EBITDA loss of AU$13m (US$9.16m) in the September quarter and a loss of AU$8m (US$5.64m) in the prior period.

The improvement was driven by stabilised trading at The Star Sydney, seasonally stronger volumes at The Star Gold Coast, and an increase in operator fee revenue from The Star Brisbane to AU$26m. That included a AU$5m fixed monthly fee and an AU$11m revenue true-up linked to the group’s planned exit from the Destination Brisbane Consortium.

The Star Sydney generated revenue of AU$163m, up slightly from the previous quarter, although EBITDA remained negative at AU$8m amid the impact of mandatory carded play and cash limits in New South Wales. The Star Gold Coast posted revenue of AU$108m and EBITDA of AU$10m, benefiting from stronger seasonal demand.

The Star Brisbane delivered EBITDA of AU$4m for the quarter, compared to a loss in the prior period, while Treasury Brisbane made a marginal contribution following the closure of the casino in August 2024.

The company reiterated that its ability to continue as a going concern remains dependent on refinancing outcomes and a pending AUSTRAC judgment. Management said recent capital injections from Bally’s Corporation and Investment Holdings have strengthened the group’s balance sheet and provided financial flexibility.

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The casino operator has reported positive EBITDA for the second quarter of its financial year. Australia.- The Star Entertainment Group has reported a return to positive EBITDA in its second quarter following losses in previous periods. It noted stabilising trading conditions and higher operator fee income from The Star Brisbane. According to its unaudited quarterly…