Australia’s Star Entertainment Group has reported an AU$18 million (US$12 million) EBITDA loss for the three months to 30 September 2024, impacted by high regulatory costs, lower business volumes and the limited operations of newly opened integrated resort The Star Brisbane.
The AU$3.6 billion (US$2.4 billion) Brisbane property opened on 29 August and generated AU$45.9 million (US$30 million) in revenues in 33 days of operation during the quarter, of which Star’s revenue share was AU$4 million – listed as “Operator Fee Revenue”. Star owns 50% of the Brisbane joint venture, with Hong Kong’s Chow Tai Fook and Far East Consortium each holding 25%.
