The Star Entertainment Group (SGR) AGM 2026 summary

Opening remarks and agenda

• Hybrid AGM opened after 10:00 a.m. Sydney time with a quorum; shareholders could participate in person or online, and Items 2–11 were put to poll.

• Item 1 covered the FY ended June 30, 2026 financial statements, sustainability report, directors’ report, and auditor’s report; it was a discussion item with no vote.

Financial performance review

• At board entry, cash was about AUD 100 million after an AUD 300 million investment, cash burn exceeded AUD 20 million monthly, and properties faced double-digit YoY revenue declines.

• Refinancing removed near-term debt maturities; cash rose to almost AUD 200 million, while Sydney and Gold Coast properties were cash-flow positive or EBITDA positive.

• Q1 FY 2027 EBITDA profit was AUD 12 million, up AUD 25 million on the preceding period; Sydney and Gold Coast revenue increased 9% from Q4 FY 2026.

• Brisbane’s management agreement now annualizes to over AUD 150 million EBITDAM, versus AUD 50 million at transition; Brisbane casino profitability tripled in under 12 months.

• Corporate costs fell AUD 10 million below the preceding period in Q1 FY 2027; cash reserves are expected to build during FY 2027 before non-operating items.

Board and executive committee updates

• Soo Kim, George Papanier, Don Pasquariello, Brooke Lindsay, and Grant Bowie stood for election; Donna Isaacs was a board observer awaiting regulatory and ministerial approvals for appointment as a non-executive director.

• Bruce Mathieson became Group CEO and Managing Director in December 2025; John Koster leads Sydney, and Ameet Patel leads Gold Coast and Brisbane into FY 2027.

• Director experience spans casino operations and finance, audit and professional services, legal and compliance, enterprise risk, and gaming hospitality.