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. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.