First Impression: Star Entertainment (SGR) Full year Result

Bell Potter


The Star key highlights: Slots up 8.3%, Domestic tables up 9.1%, Non-gaming up 3.2%, Int. VIP rebate business up 10.3% with an actual WIN rate of 1.17% (vs 1.20% pcp) | Queensland Casinos highlights: Domestic revenue up 2.2%, Int. VIP rebate business turnover down 35.3% and actual win rate 2% (2.21% pcp) | International VIP rebate: gross rev up 7.2% and actual win rate 1.2% (vs 1.27%pcp) | Normalised EBITDA up 14.1% to $556.2m; applying 1.35% win rate to actual VIP turnover: Segment performance: The Star Sydney: EBITDA up 17.4% to $381.8m; Queensland Casinos: EBITDA up 7.5% to $174.4m | Net operating cash flow down 22% to $377.9m.

1 stock mentioned

Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment