Star Entertainment Group Narrows Fiscal Q4 Loss Before Interest, Taxes, Depreciation, Amortization

MT Newswires Live
07/27

Star Entertainment Group (ASX:SGR) reported a fiscal fourth-quarter loss before interest, taxes, depreciation, and amortization of AU$8 million, narrowing from a loss of AU$27 million in the year-ago period, according to an Australian bourse filing on July 24 after market hours.

The company's revenue for the June quarter was AU$265 million, down from AU$270 million a year earlier, per the filing.

The results reflect stabilized trading at Star Sydney casino and hotel even though trading levels remain at historical lows, stronger volumes on the Gold Coast, and a lower operator fee for the Star Brisbane property, the company said.

Additionally, Star Entertainment's ability to continue as a going concern remains subject to the outcome of "a limited number of material uncertainties," it said after detailing relevant matters in fiscal first-half financial statements released in February.

The company reported AU$267 million of cash as of June 30. It ended March with available cash of AU$90 million, an earlier fling showed.

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