{"id":274,"date":"2024-06-28T06:51:43","date_gmt":"2024-06-28T03:51:43","guid":{"rendered":"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/"},"modified":"2024-06-28T06:51:43","modified_gmt":"2024-06-28T03:51:43","slug":"star-entertainment-group-reports-strong-fiscal-year-2021-results","status":"publish","type":"post","link":"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/","title":{"rendered":"Star Entertainment Group Reports Strong Fiscal Year 2021 Results"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/Wasz8XdPYWQ\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The Australian land-based gaming enterprise, Star Entertainment Group, announced its total earnings for the fiscal year ending June 30, 2021. The company reported a revenue of A$1.55 billion (\u00a3814.4 million\/\u20ac953.3 million\/$1.11 billion), despite ongoing challenges posed by COVID-19 limitations.<\/p>\n<p>Star&#8217;s financial report indicated a decrease in revenue, although the company returned to profitability in the 2020-21 fiscal year. Revenue declined by 10.9% compared to the previous fiscal year.<\/p>\n<p>The majority of the company&#8217;s total revenue, amounting to $1.36 billion, originated from domestic gambling activities, representing a 9.6% increase from the previous fiscal year. International VIP revenue, however, experienced a significant decline of 96.7% to $9.5 million due to travel restrictions. Non-gaming and other revenue reached $183.8 million, down 16.4%.<\/p>\n<p>After deducting player rebates and commissions, totaling $11.7 million, the net revenue amounted to $1.54 billion, reflecting a year-on-year increase of 3.9% from $1.48 billion.<\/p>\n<p>Star&#8217;s Sydney operations generated revenue of $828.2 million, a decrease of 29.1% compared to the previous fiscal year. Domestic table games contributed the largest share of this revenue, reaching $458.1 million. Slot machine revenue amounted to $277.7 million, while non-gaming activities generated $77.1 million.<\/p>\n<p>In the preceding month, a Star Sydney employee was incarcerated for orchestrating an illegal gambling scheme at the casino, resulting in a loss of $467,000 for the establishment.<\/p>\n<p>The company&#8217;s Gold Coast operations generated a total revenue of $381.3 million, representing a 16.3% increase. <\/p>\n<p>Automated gaming devices contributed the most to earnings, reaching a total of $203.9 million.  This was followed by traditional table games, which brought in $100.8 million.  Revenue from non-gaming activities reached $74.5 million.<\/p>\n<p>The Brisbane area generated $347.6 million in income, representing a 38.1% boost.  Automated gaming devices produced $173.8 million in revenue, while traditional table games and non-gaming activities generated $149.5 million and $22.8 million, respectively.<\/p>\n<p>The overall revenue in each region was impacted by the COVID-19 outbreak, which resulted in periodic casino closures.<\/p>\n<p>Player rewards and commission expenses saw a significant decrease of 95.5% year-over-year, reaching $11.7 million.<\/p>\n<p>Gaming tax and levy expenses totaled $378.7 million, a slight increase of 0.3% year-over-year. Operating costs saw a reduction of 10.5%, reaching $740 million.  Considering these two expenses, earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to $426.7 million.  This signifies a year-over-year increase of 51.3%.<\/p>\n<p>Depreciation and amortization expenses reached $210.5 million, and other expenses totaled $4.4 million, resulting in earnings before interest and taxes (EBIT) of $211.8 million. This represents a substantial increase of 172.6% compared to the full year 2020.<\/p>\n<p>Other costs, including net financing, taxes, and major projects, amounted to $153.9 million.  This resulted in a net profit of $57.9 million, a considerable increase of $152.7 million year-over-year, following a loss of $94.8 million the previous year.<\/p>\n<p>Star Entertainment also released adjusted results, which account for volatility using an average win rate of 1.25% of turnover.<\/p>\n<p>Adjusted total revenue reached $1.56 billion, a decrease of 20.8% year-over-year. <\/p>\n<p>The latest financial report from Star Entertainment Group showcases robust performance across its Australian properties. The Sydney site raked in a staggering $832 million in income, while the Gold Coast and Brisbane locations brought in $382 million and $348 million, respectively.<\/p>\n<p>The company&#8217;s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) hit $430 million, with earnings before interest and taxes (EBIT) at $219 million.<\/p>\n<p>John O&#8217;Neill, Chairman of Star Entertainment Group, expressed contentment with the company&#8217;s achievements, stating, &#8220;Despite the unparalleled challenges presented by the COVID-19 outbreak, the Group has continued to implement its strategy exceptionally well.&#8221; He further stated, &#8220;The long-term outlook for Star&#8217;s domestic operations remains positive, bolstered by valuable licenses in prime locations. We are in the final stages of transforming our properties into top-tier entertainment destinations.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian land-based gaming enterprise, Star Entertainment Group, announced its total earnings for the fiscal year ending June 30, 2021. The company reported a revenue of A$1.55 billion (\u00a3814.4 million\/\u20ac953.3 million\/$1.11 billion), despite ongoing challenges posed by COVID-19 limitations. Star&#8217;s financial report indicated a decrease in revenue, although the company returned to profitability in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Star Entertainment Group Reports FY2021 Earnings<\/title>\n<meta name=\"description\" content=\"Despite COVID-19 challenges, Star Entertainment Group reports A$1.55 billion in revenue for FY2021, marking a return to profitability.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Star Entertainment Group Reports Strong Fiscal Year 2021 Results\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Despite COVID-19 challenges, Star Entertainment Group reports A$1.55 billion in revenue for FY2021, marking a return to profitability.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Experience the Best of Online Casino Gaming | Licensed &amp; Trusted\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T03:51:43+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/\",\"url\":\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/\",\"name\":\"Star Entertainment Group Reports FY2021 Earnings\",\"isPartOf\":{\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-28T03:51:43+00:00\",\"dateModified\":\"2024-06-28T03:51:43+00:00\",\"author\":{\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Despite COVID-19 challenges, Star Entertainment Group reports A$1.55 billion in revenue for FY2021, marking a return to profitability.\",\"breadcrumb\":{\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/2024\/06\/28\/star-entertainment-group-reports-strong-fiscal-year-2021-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/uptownacesnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Star Entertainment Group Reports Strong Fiscal Year 2021 Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uptownacesnodepositbonus.icu\/#website\",\"url\":\"https:\/\/uptownacesnodepositbonus.icu\/\",\"name\":\"Experience the Best of Online Casino Gaming | Licensed &amp; Trusted\",\"description\":\"Discover a world of exciting opportunities in online gambling with our regularly updated news, in-depth reviews, and informative insights. 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