• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Star Entertainment Group sees VIP return as 2018 revenue heads north

Newsdesk by Newsdesk
Fri 24 Aug 2018 at 07:09
Star Entertainment Group sees VIP return as 2018 revenue heads north
Print Friendly, PDF & Email

Australia’s Star Entertainment Group has seen its revenue grow 6.1% to AU$2.6 billion for the full year ended 30 June 2018, boosted by a strong recovery in VIP as the segment continues its resurgence nation-wide.

Star’s numbers are even more impressive when normalized, up 15.3%, with statutory figures negatively impacted by a low win rate.

VIP turnover grew 54.3% to AU$61.2 billion with normalized International VIP revenue up 51.8%. Most notably, Star has emerged as Australia’s biggest player in the VIP segment with The Star Sydney now the leading VIP integrated resort in the nation ahead of traditional rival Crown Melbourne, and The Star Gold Coast now sitting comfortably in third.

In Sydney, gross revenue grew 3.0% to AU$1.7 billion, up 17.5% when normalized, with normalized VIP gross revenue up 55% including a 56.7% increase in VIP turnover to AU$56.5 billion.

Normalized EBITDA at The Star Sydney increased 27.9% year-on-year to AU$410 million although real EBITDA declined 28.7%, impacted by the low win rate in FY2018.

In Queensland, revenue increased 12.9% to AU$843 million with normalized revenue up 10.5% to AU$820 million. International VIP turnover grew 40.9% to AU$8.7 billion including a 78.3% increase in the six months to 30 June 2018.

Normalized EBITDA declined 8.4% to AU$178 million.

“The group completed a further year delivering on our growth strategy,” said Chairman John O’Neill.

“Record normalized revenues and earnings for the company in FY2018 reflect ongoing operational improvements across the group and early performance benefits from new and upgraded assets at the Gold Coast and Sydney.

“The group announced an expanded strategic partnership with Chow Tai Fook Enterprises (CTF) and Far East Consortium (FEC) in March 2018, further enhancing the long-term value of The Star for all shareholders. This comprised a Strategic Alliance Agreement to further invest in The Star’s businesses, a Marketing Alliance which leverages CTF and FEC’s customer networks and welcoming CTF and FEC as shareholders via an equity placement that aligns our interests.

“With our partners CTF and FEC, we announced an enhanced Queen’s Wharf Integrated Resort in Brisbane with an approximately 25% increase in scope which is expected to support a favorable capital return. At the Gold Coast, we have made good progress on the first mixed-use joint venture tower and approvals for the masterplan for up to a further four towers across the property.”

Star Entertainment Group’s strong results mirror a similar recovery by Crown Resorts after both companies saw VIP revenue plummet in 2017 following the arrests of 19 Crown employees in mainland China for promotion of gambling in October 2016. Crown’s VIP turnover climbed 54.5% to AU$51.5 billion in FY18.

Star announced a dividend of AU$0.13 per share, a 53% increase on last year.

RelatedPosts

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

Sat 31 May 2025 at 05:53
Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

Fri 30 May 2025 at 05:23
Ainsworth flags 1H25 revenue growth on Australian market strength but Novomatic takeover facing opposition by family of founder

Ainsworth chair says higher R&D investment necessary to boost global market competitiveness

Thu 29 May 2025 at 05:49
A moral defense of gambling

A moral defense of gambling

Wed 28 May 2025 at 18:19
Load More
Tags: AustraliaCrown MelbourneEbitdarevenueStar EntertainmentStar Entertainment GroupVIP
Share1Share
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English