Star Entertainment posted an $8 million loss in the fourth quarter of fiscal 2026. Revenue for the year ended 30 June fell 2% to $265 million.
The quarterly result was an improvement on the $27 million loss before interest, tax, depreciation and amortisation in the same period a year earlier, according to Michael West Media. Most of the revenue pressure came from The Star Sydney, where softer gaming-table and non-gaming income outweighed stronger gaming-machine intake.
Since mandatory carded play and $5,000 daily cash limits were introduced in October 2024, average daily revenue has fallen 20%. The NSW government later confirmed that the $5,000 cash cap would stay in place until August 2027.
The casino group is still operating under heavy regulatory scrutiny. Australia has no single gambling regulator or overarching gambling statute, with casinos overseen by state and territory authorities, including the NSW Independent Casino Commission and Queensland bodies, according to ICLG.
The NSW commission determined on 17 October 2022 that The Star was no longer a suitable person to give effect to its Sydney licence and appointed Nicholas Weeks as manager under section 28 of the Casino Control Act 1992. In a regulatory update in September 2025, the company said the Sydney suspension remained in force and Weeks’ appointment had been extended to 31 March 2026.
A quarterly report filed in April later said the Sydney suspension still remained in place and that the manager’s term now runs to 30 September 2026. The same report said mandatory carded play and cash limits are legislated for The Star Gold Coast and The Star Brisbane, but the Queensland government has not yet made the regulations needed to put them into effect.
That report also said the Gold Coast suspension deferral and special manager appointment, and Brisbane’s external adviser appointment, all run to 30 September 2026. In the March quarter, group revenue was $266 million, down 12% from the previous quarter, and EBITDA loss narrowed to $1 million before significant items.
Sydney generated $147 million in revenue and a $4 million EBITDA loss. The Gold Coast posted $101 million in revenue and $8 million in EBITDA, while Brisbane recorded $15 million in operator-fee revenue and a $4 million loss on allocated costs.
Available cash at 31 March was $90 million, and total cash and cash deposits were $180 million including restricted deposits. The shares last traded at 12 cents.
