Australia's Star Entertainment Returns to Positive Quarterly EBITDA as Casino Revenue Rises

Australian casino operator Star Entertainment reported positive quarterly operating earnings for the three months to September 30, 2026, as cost reductions and improved trading at its Sydney and Gold Coast properties helped reverse a loss a year earlier.

The company recorded consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) of A$12 million, compared with an EBITDA loss of A$13 million in the corresponding quarter of 2025. This is an operating performance measure, not a statement that the company made an equivalent statutory net profit.

Consolidated revenue increased 2% from a year earlier to A$284 million. The Sydney and Gold Coast casinos accounted for more than 98% of group revenue, underscoring the importance of the two venues to Star's financial position. The results suggest some improvement in trading and operating efficiency after a period of losses.

Star reported A$239 million in cash and cash equivalents at September 30. Chief executive Bruce Mathieson Jr said the company expects to begin rebuilding cash reserves during the 2027 financial year before non-operating items. That expectation is forward-looking and does not guarantee a return to sustainable profitability.

Significant regulatory and financial uncertainty remains. The company reiterated that the licence for its Sydney casino remains suspended and that the appointed manager's term has been extended until June 30, 2027. A positive quarter of EBITDA does not resolve those restrictions or remove the broader risks associated with the business.

The results are an early indication that lower costs and firmer casino revenue may be helping Star's recovery. Further trading performance, cash generation and regulatory developments will determine whether the improvement is sustained.