The Star Entertainment Group see a fall in VIP business EBITDA

Company News

by Rachael Jones

The Star Entertainment Group's (ASX:SGR) statutory NPAT, before significant items is up 17.1 per cent to $216 million on the prior corresponding period.

Normalised EBITDA from the VIP business fell 35.6 per cent to $556.5 million.

This pushed the group's total normalised net profit after tax down 8.4 per cent for the year to $224 million.

Despite the challenges in the VIP market, local trade at The Star's casinos in Sydney, Brisbane and the Gold Coast was solid, the normalised EBITDA from the domestic businesses up 5.4 per cent.

Shares in Star Entertainment Group's (ASX:SGR) closed 2.2 per cent lower at $3.58 yesterday.