Star Entertainment cops ‘first strike’, incurs $27m loss in four months under new responsible gaming rules
New responsible gaming regulations have been blamed for a “significant” decline in revenue and a “critical” liquidity challenge that propelled struggling casino operator The Star Entertainment Group to a $27 million loss for the first four months of the 2025 financial year.
The disclosures came as shareholders at Star’s annual general meeting in Brisbane on Thursday looked to have delivered a “first strike” against its remuneration report, with 44.6 per cent of proxies opposed.
Star chief executive Steve McCann told the meeting that “there is continued weakness in the operating performance of the group”, citing “material negative cashflow”.
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By continuing you agree to our Terms and Privacy Policy.“This is attributable to the ongoing challenging consumer environment and changes in business practices which continue to weigh heavily on gaming, particularly in the premium player segment,” he said.
Star recorded a loss before significant items of $27m before interest, tax, depreciation and amortisation for the four months to the end of October, including $8m in the latter month..
Daily revenue since the introduction of mandatory playing cards and cash limits at Star Sydney in mid-August was down 15.5 per cent, Mr McCann said.
“We are at a critical point in our liquidity, with the business currently experiencing material negative cashflow on a monthly basis,” he said.
Mr McCann appealed for patience from shareholders as he seeks to turn around the group while leading a cultural revamp in the wake of damning regulatory findings about Star’s governance and management failings.
More to come.
