The Star Entertainment Group (SGR) H1 2026 earnings summary

Executive summary

• H1 FY26 normalised revenue was $584.9 million, down 10% year-over-year, mainly due to regulatory changes and the closure of Treasury Brisbane Casino.

• Statutory net loss after tax was $109.7 million, a significant improvement from a loss of $301.9 million in the prior period.

• EBITDA loss improved 71% to $7.6 million, reflecting lower corporate costs and increased operator fee from The Star Brisbane.

• The Group focused on business performance, liquidity, and progressing its remediation plan, with ongoing regulatory and legal challenges impacting operations.

• No interim dividend was declared or paid for the period.

Financial highlights

• Group revenue declined 10% to $584.9 million compared to H1 FY25.

• EBITDA (before significant items) was a loss of $7.6 million, a 71% improvement year-over-year.

• Statutory NPAT was a loss of $109.7 million, a 64% improvement from H1 FY25.

• Operating expenses decreased 11.2% to $463.6 million.

• Net assets increased to $576.8 million from $446.8 million at 30 June 2025.

Outlook and guidance

• Revenue growth initiatives and further cost reductions are expected to support medium-term earnings improvement.

• Successful refinancing and restoration of casino licences are critical to ongoing operations.

• The Group is working towards refinancing its debt and expects to execute a new facility by mid-May 2026.