The hits keep on coming for Australia’s Star Entertainment Group with the company reporting a net loss of $4.4 million in the March quarter as premium players continue to steer clear.
In a quarterly trading update filed Friday, the company revealed a 19.3% year-on-year decline in revenue from premium gaming rooms at The Star Sydney, while premium gaming revenue was also down 20% at The Star Gold Coast and 28% at Treasury Brisbane.
The decline was somewhat tempered by a slight improvement across its main gaming floors – The Star Sydney booked a 5.4% year-on-year increase, The Star Gold Coast 4.6% and Treasury Brisbane 6.4% – however net revenue was still down 4.6% versus the March 2023 quarter at $274 million.
