• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Star Ent posts higher profit despite VIP turndown

Aug 23, 2017 Newsdesk Latest News, Top of the deck, World  


Star Ent posts higher profit despite VIP turndown

Australian casino operator Star Entertainment Group Ltd announced a final dividend of AUD0.085 (US$0.067) per share for financial year ended June 30, after reporting net profit after tax up 36 percent year-on-year for the period.

It said in a Wednesday filing that a higher-than-normal win rate made up for a fall in turnover from high rollers coming from “North Asia”.

It had been widely reported in the Australian media that those earnings of Australian casino companies that typically derive from Chinese VIP gamblers had recently been negatively affected following the arrest in China in October of some employees of Star Entertainment’s market rival Crown Resorts Ltd for “gambling related crimes”.

Star Entertainment’s net profit for the year to June 30 was nonetheless AUD264.4 million (US$208.6 million), compared to AUD194.4 million in the previous year.

Star Entertainment owns and operates The Star Sydney casino hotel (pictured), Jupiters Gold Coast and the Treasury casino in Brisbane.

Reported earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 19.9 percent-year-on-year, to AUD586.2 million.

The casino operator reported gross revenue of AUD2.43 billion, up 3.2 percent from the previous year. Domestic revenue increased by 2 percent year-on-year, to AUD1.54 billion, while turnover from international VIPs increased by 7.3 percent, to AUD639.6 million.

The company said the increase in international VIP rebate was supported by a high win rate of 1.59 percent, above the normalised rate of 1.35 percent.

On a normalised basis, the turnover at the firm’s “international VIP rebate” business across its three current properties decreased by 18.6 percent year-on-year.

“The North Asian disruption is lingering,” Star Entertainment’s chief executive Matt Bekier said on Wednesday in a presentation of the full-year results. “We dropped a long way in November and December and it’s going to take a little while to climb out of that hole. We’ve been able to mitigate some of that through diversification,” he added.

The casino operator had previously said that its international business had been negatively impacted by the detention in October in mainland China of employees from market rival Crown Resorts Ltd.

Crown Resorts’ annual results were hit by the downsizing of the company’s international operations, following the arrest of a number of its employees. The casino firm reported revenue from VIP play of AUD605.3 million for its latest fiscal year, down 39.7 percent from the previous year.

In Wednesday’s filing, Star Entertainment’s Mr Bekier said the firm’s “strategy of diversifying international revenues and providing a more compelling high-end tourism proposition for VIP and premium mass customers is showing signs of good growth”.

“We are also expanding our source markets and sales teams to cover a broader international footprint … and we continue to assess the North Asian VIP business,” he added.

The company declared a final dividend of AUD0.085 per share, up from AUD0.075 per share a year ago.


  • tweet
Related articles
  • Mainland tour groups to Macau to resume Feb 6: govt
    Mainland tour groups to Macau to resume...

    Feb 03, 2023  

  • Chinese comeback limited impact on Singapore IRs: bank
    Chinese comeback limited impact on...

    Jan 31, 2023  

More news
  • Macau early Feb average daily GGR higher than Jan: JPM
    Macau early Feb average daily GGR...

    Feb 06, 2023  

  • Macau tour trade returns at historic areas, resorts says govt
    Macau tour trade returns at historic...

    Feb 06, 2023  


Latest News

Macau early Feb average daily GGR higher than Jan: JPM

Macau early Feb average daily GGR higher than Jan: JPM

Feb 06, 2023  

Macau’s casino gross gaming revenue (GGR) for the first five days of February is estimated at MOP1.9 billion (US$235.1 million) – or MOP380 million per day – a level that suggests a “45...
Read More
Macau tour trade returns at historic areas, resorts says govt

Macau tour trade returns at historic areas, resorts says...

Feb 06, 2023  

Cambodia ops to Mar 31 for due tax on non-gaming: report

Cambodia ops to Mar 31 for due tax on non-gaming: report

Feb 06, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The resumption [of mainland package tours] is definitely good news: recovering foot traffic for casinos [in Macau] is really important and their comeback will help with that”

Hoffman Ma Ho Man

Deputy chairman of Success Universe Group, promoter of casino-hotel Ponte 16



Most Popular

  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Cyprus president says Melco CoD Mediterranean to aid nationCyprus president says Melco CoD Mediterranean to aid nation February 6, 2023
  • Macau early Feb average daily GGR higher than Jan: JPMMacau early Feb average daily GGR higher than Jan: JPM February 6, 2023
  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us