The Star Entertainment Group (ASX: SGR) reported a net loss after tax of $301.9 million for the half-year ended December 31, 2024, a stark contrast to the previous period. Revenue from ordinary activities decreased by 16.4% to $724.0 million. Normalised revenue also experienced a substantial drop, falling 25.0% to $649.6 million. The company did not declare an interim dividend for the period. A normalized loss before interest, tax, depreciation, amortisation and significant items was reported at $(26.4) million.
Depreciation and amortisation increased 50.3% to $30.9 million. Significant items heavily impacted the statutory results, including an impairment of the investment in DBC joint venture and regulatory, fines, penalties and legal costs totaling $166.2 million.
Net tangible assets per share decreased significantly, from $0.76 to $0.15, excluding right-of-use assets. The company’s share of associates’ loss also contributed to the overall negative result. The results reflect ongoing regulatory pressures and operational challenges faced by the group, impacting profitability and shareholder returns.
The absence of an interim dividend reflects the challenging financial environment, indicating a cautious approach towards capital allocation. Investors should refer to the full Directors’ Report and Financial Report for a comprehensive understanding of the company’s performance and future outlook.
