The Star Entertainment Group returned to positive operating earnings in the September quarter, reporting group EBITDA of A$12 million on revenue of A$284 million. The result compares with an A$9 million EBITDA loss in the June quarter and a A$13 million loss a year earlier, according to the company's quarterly activities report.
The two wholly owned casinos generated A$279 million of combined revenue. Sydney contributed A$162 million and A$15 million of property EBITDA, while Gold Coast revenue rose to A$117 million and property EBITDA reached A$20 million. Group cash and equivalents finished September at A$239 million, below the A$267 million reported at the end of June.
The financial improvement has not ended the regulatory constraints in Sydney. Star's published AGM addresses say the casino licence remains suspended and the appointed manager is set to continue until June 30, 2027 unless the NSW Independent Casino Commission ends the role sooner. Management says more than 85 percent of remediation milestones have been completed.
The quarter therefore presents two different signals. An Asia Gaming Brief review confirms the return to positive EBITDA, but the licence suspension and external oversight show that financial improvement has not yet translated into regulatory reinstatement.
