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Star Entertainment Group Limited ( (AU:SGR) ) has shared an update.
The Star Entertainment Group’s latest quarterly report reveals a challenging financial position with a 15% drop in revenue from the previous quarter and an EBITDA loss of $8 million. The performance reflects ongoing issues such as the mandatory carded play and cash limits in New South Wales, along with costs from remediation activities and the closure of Treasury Brisbane Casino. Despite these challenges, the company has implemented a cost-saving program and is exploring further liquidity solutions, although uncertainty remains regarding its ability to continue as a going concern.
More about Star Entertainment Group Limited
The Star Entertainment Group Limited operates within the entertainment industry, primarily focusing on casino and integrated resort services across Australia. The company’s key locations include The Star Sydney, The Star Gold Coast, and the recently opened Star Brisbane. However, it no longer operates the Treasury Brisbane Casino, which was permanently closed.
YTD Price Performance: 2.50%
Average Trading Volume: 280,039
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $239.6M
For an in-depth examination of SGR stock, go to TipRanks’ Stock Analysis page.
