Star reveals more losses as it braces for public hearings
An exodus of high-rollers tipped embattled casino operator Star Entertainment to a $6.8 million loss in the third quarter as it braces for the outcome of a second public inquiry into its Sydney operation.
Star told investors it was losing large sums of money from customers visiting premium VIP areas, and that monthly operating costs had ballooned as it focused on transforming the business. Normalised EBITDA fell 11.5 per cent to $37.9 million.
A previous version of this story incorrectly reported Star’s third-quarter loss as $49.7 million; this was Star’s loss in the relevant quarter of 2022-23.
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