Star Entertainment released financial results for Q2, 2025, revealing continuous financial and operational hardships, with little reassurance for long-term stability.
Despite approving a significant A$300m capital injection from Bally’s and Chow Tai Fook Enterprises, Star contends with regulatory suspensions, underperforming assets, and delayed progress on key asset divestitures.
Star Entertainment posted a total Q2 revenue of A$270 million, down 30% from last year’s period. Its EBIDTA reached A$27 million, compared to A$23 million in positive EBITDA for the same period in 2024.
Star Sydney, the company’s flagship property, posted a total revenue of A$162 million, but its EBITDA fell to A$14 million. The property is still under regulatory sanction, with a revoked license and a special manager’s oversight through September 30, 2025.
The Star Gold Coast recorded a stable revenue of A$96 million, with an EBITDA of A$2 million. No matter how little, this is a rare bright spot for the company.
The Star Brisbane showed some improvement as well, with operator fee revenue increasing slightly to A$8 million, and its EBITDA loss lowering to A$15 million. Treasury Brisbane posted A$4 million in revenue.
Despite cash reserves of A$234 million, the Star Entertainment Group has taken several liquidity-enhancing steps. Star sold the Sydney Event Center and connected properties for A$60 million, to strengthen short-term liquidity. Meanwhile, a shareholder vote confirmed continued support for the Bally’s investment.
