The Star Entertainment Group returned to positive EBITDA in the first quarter of FY27, reporting AU$12m compared with an AU$13m loss in the same period last year. Group revenue increased 2% year on year and 8% quarter on quarter to AU$284m.
The improvement was led by The Star Sydney and The Star Gold Coast, which generated combined revenue of AU$279m, up 5% from the prior-year period and 9% from Q4 FY26. Combined EBITDA reached AU$35m, compared with AU$14m a year earlier.
The operator attributed the revenue growth partly to stronger electronic gaming machine performance following recent marketing and revenue initiatives. It marked the first year-on-year quarterly revenue growth for the two properties since The Star began its quarterly reporting obligations in September 2024.
Sydney revenue rose 1% year on year to AU$162m, while segment EBITDA increased from AU$3m to AU$15m. Gold Coast revenue climbed 12% to AU$117m, with EBITDA rising 92% to AU$20m.
Meanwhile, managed property The Star Brisbane recorded AU$136m in revenue, up 14%, while EBITDAM reached a record AU$37m, nearly triple the AU$13m reported a year earlier. EBITDAM refers to EBITDA before The Star's management fee charged to Destination Brisbane Consortium (DBC), providing a measure of the integrated resort's operating performance under The Star's management.
The group also reduced unallocated corporate expenses by 29% to AU$23m and reported positive operating free cash flow excluding one-off items. It expects FY27 to be its first year of positive annual operating cash inflows, before one-off items, in more than two years.
However, The Star said several material uncertainties remain and could affect its future assessment of its ability to continue as a going concern.
The results may show improving operating trends following the Bally's transaction
