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Good demand at all properties: The Star

The Star Entertainment Group says all of its casinos are experiencing good demand so far in the second half of fiscal 2016.

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Source: AAP


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Casinos operator The Star Entertainment Group says it is experiencing good demand at all its properties.

The company - which operates The Star casino in Sydney, the Treasury casino in Brisbane, and Jupiters Gold Coast - says gross gaming revenue, excluding its high-roller gaming operations, is up 6.1 per cent compared with the four months to the end of April last year.

Turnover from international VIP gamblers was in line with management's expectations.

Total domestic revenue had lifted by 5.1 per cent despite being renovations and building work disruption.

Non-gaming revenue had been particularly affected by capital works and was softer than the same time last year.

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The impact from disruptions in May or June 2016 was expected to be similar to the first four months of the calendar year.

The Star Entertainment group is spending up to $845 million on upgrading and expanding its Gold Coast property, and up to $1 billion on expansion at The Star casino in Sydney.

The group is also part of the Destination Brisbane Consortium that is developing a new $2 billion casino resort at Queen's Wharf in Brisbane.

Shares in The Star Entertainment Group were 36.0 cents lower at $5.56 at 1445 AEST on Thursday.


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