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Star Entertainment Group Limited
(Sydney:SGR)
Star Entertainment Group Limited (SGR) vs. iShares MSCI Australia ETF (EWA)
Star Entertainment Group Limited Business Overview & Revenue Model
Star Entertainment Group Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.27B | 1.36B | 1.67B | 1.86B | 1.53B | 1.55B |
| Gross Profit | 307.60M | 396.60M | 1.58B | 828.40M | 643.00M | 680.20M |
| EBITDA | -204.60M | -96.70M | -1.39B | -2.52B | 43.30M | 354.00M |
| Net Income | -471.50M | -471.50M | -1.68B | -2.44B | -202.50M | 57.90M |
Balance Sheet | ||||||
| Total Assets | 1.78B | 1.78B | 1.90B | 3.26B | 5.37B | 5.46B |
| Cash, Cash Equivalents and Short-Term Investments | 267.00M | 267.00M | 299.60M | 88.70M | 82.00M | 67.90M |
| Total Debt | 598.30M | 598.30M | 301.80M | 757.20M | 1.33B | 1.29B |
| Total Liabilities | 1.38B | 1.38B | 1.06B | 1.49B | 1.94B | 1.85B |
| Stockholders Equity | 403.20M | 403.20M | 833.30M | 1.77B | 3.43B | 3.61B |
Cash Flow | ||||||
| Free Cash Flow | -248.70M | -213.00M | -30.30M | -147.90M | -15.50M | 301.10M |
| Operating Cash Flow | -179.80M | -144.10M | 46.00M | -12.60M | 127.30M | 403.20M |
| Investing Cash Flow | -36.30M | -30.30M | -94.80M | -160.60M | -123.70M | -187.30M |
| Financing Cash Flow | 220.30M | 141.80M | 259.70M | 98.10M | 10.50M | -214.10M |
Star Entertainment Group Limited Technical Analysis
Star Entertainment Group Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | AU$170.82M | 18.70 | 43.45% | 5.00% | -4.01% | -12.08% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | AU$353.63M | 16.61 | 6.11% | 18.81% | 12.22% | 558.33% | |
55 Neutral | AU$2.00B | 55.63 | 2.89% | 2.01% | 8.62% | ― | |
45 Neutral | AU$962.11M | -0.97 | -65.81% | ― | -31.07% | 74.57% | |
43 Neutral | AU$312.83M | -16.42 | -142.61% | ― | 6.47% | 60.03% |
Star Entertainment Group Limited Corporate Events
The Star Entertainment Group reported unaudited second-quarter FY26 revenue of $301 million, up 6% on the previous quarter, and returned to a modest EBITDA profit of $6 million before significant items after an EBITDA loss in Q1, helped by stabilising but still historically weak trading in Sydney, stronger seasonal volumes on the Gold Coast, and recognition of a higher operator fee for The Star Brisbane. The quarter also reflected the impact of the proposed joint venture transaction to exit the Destination Brisbane Consortium and related asset disposals, which triggered recognition of $26 million in operator fee revenue for The Star Brisbane, as well as completion of $300 million in strategic equity investments by Bally’s Corporation and Investment Holdings, giving them stakes of about 38% and 23% respectively. Despite improved trading and available cash of $130 million at 31 December 2025, the company flagged continuing challenging operating conditions under stricter regulation, active refinancing negotiations ahead of a February covenant test that some metrics are not expected to meet, extension of DBC debt maturities to 31 March 2026, and reiterated that multiple unresolved issues, including the pending AUSTRAC judgment and refinancing outcome, continue to cast material uncertainty over its ability to remain a going concern.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group has notified the market of the cessation of a series of performance rights and share options, detailing the lapse or termination of 3,087,855 performance rights and 1,269,500 options across several dates in November and December 2025. The move reflects adjustments to the company’s issued capital structure and the winding down of certain equity-based incentive instruments, which may marginally reduce potential future share dilution and refine the alignment between executive or employee remuneration schemes and shareholder interests.
The most recent analyst rating on (AU:SGR) stock is a Sell with a A$0.15 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group has announced the resignation of Group Chief Financial Officer Frank Krile, effective 29 December 2025, and Group Chief Operating Officer Jeannie Mok, who will depart at the end of January 2026, and the company will now begin a search process for a new CFO. At the same time, the board has confirmed CEO Bruce Mathieson Jnr’s appointment as Group Chief Executive Officer and Managing Director on an ongoing basis, subject to remaining regulatory and ministerial approvals in New South Wales and Queensland, detailing an $800,000 annual remuneration package with short- and long-term incentive opportunities, signalling a move to cement leadership stability as the company continues its remediation efforts and navigates regulatory scrutiny.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group has announced that director Steve McCann has ceased to be a director of the company as of 16 December 2025. At the time of his departure, McCann held 13,447,967 ordinary shares in the company, with no additional indirect interests or contractual securities disclosed, signalling a straightforward change in board composition without accompanying changes to his reported equity holdings or related contracts.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group has announced that non-executive director Toni Thornton ceased to be a director of the company on 16 December 2025, with the ASX notified via a Final Director’s Interest Notice. The filing shows Thornton holds no shares directly but has an indirect interest in 170,000 ordinary shares through TMMT Investments Pty Ltd, linked to the Thornton Superannuation Fund, providing transparency on her residual securities exposure following her board departure and signalling a change in the company’s board composition that may be relevant for governance-focused investors.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group has announced that Peter Hodgson has ceased to be a director of the company as of 16 December 2025, triggering a final disclosure of his relevant interests in the company’s securities. According to the notice, Hodgson holds 50,000 ordinary shares in his own name and a further 45,000 ordinary shares jointly with Ms Robyn Alexis Ruddy, and he has no additional interests in securities or contracts beyond these holdings; the update formalises his departure from the board and clarifies his ongoing equity position for investors and regulators.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited has announced significant changes in its leadership, with Bruce Mathieson Jnr stepping down as Chairman to become the Chief Executive Officer, while Soo Kim has been appointed as the new Chairman of the Board. The board changes, including the resignation of two non-executive directors, indicate a strategic shift in leadership, potentially impacting the company’s future operations and market positioning.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced the departure of its Group CEO and Managing Director, Steve McCann, effective 16 December 2025. Bruce Mathieson Jnr will assume the role of Executive Chairman while the company searches for a new CEO. McCann, who joined during a crisis, has been credited with implementing a financial reset and progressing a Remediation Plan, setting the foundation for future success. The strategic investment by Bally’s Corporation and Investment Holdings Pty Ltd is seen as an opportunity for the company to pursue recovery and growth, with new leadership expected to build on this momentum.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced the cessation of certain securities, specifically 1,494,252 performance rights and 522,321 service rights, effective December 5, 2025. This cessation may impact the company’s capital structure and could have implications for its financial strategy and stakeholder interests.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
Star Entertainment Group Limited announced the appointment of George Papanier as a director, effective from November 28, 2025. The initial director’s interest notice indicates that Papanier currently holds no securities in the company, which may suggest a fresh perspective and unbiased governance approach, potentially impacting the company’s strategic direction and stakeholder interests.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
Star Entertainment Group Limited has announced the appointment of Soohyung Kim as a director, effective November 28, 2025. Kim, through Bally’s Star Holdings, LLC, holds a significant interest in the company with 2.5 billion ordinary shares, indicating a strong influence on the company’s strategic direction.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced a change in the director’s interest, specifically regarding Steve McCann, who acquired additional Performance Rights. This change, resulting from a dilution event, was approved by shareholders at the company’s 2024 Annual General Meeting. The acquisition of these rights reflects the company’s ongoing commitment to aligning executive incentives with shareholder interests, potentially impacting the company’s governance and stakeholder relations.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced that Bally’s Corporation and its associates have become substantial shareholders, holding 37.7% of the company’s voting power with 2.5 billion ordinary shares. This development, approved by regulatory bodies and shareholders, allows Bally’s to potentially acquire up to 53.75% of shares, impacting the company’s ownership structure and market positioning.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced a significant change in its substantial shareholding, with Investment Holdings Pty Ltd, as trustee for BMG Discretionary Trust, and Bruce Lawrance Mathieson increasing their stake to 1,537,154,955 ordinary shares, representing 23.16% of the company’s voting power. This change was facilitated by regulatory approvals and shareholder consent, allowing Investment Holdings to exceed typical shareholding restrictions, potentially impacting the company’s governance and market dynamics.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited has announced significant changes to its board, including the appointment of Soo Kim and George Papanier as board members representing Bally’s Corporation. Anne Ward and Deborah Page have resigned from their positions, with Bruce Mathieson Jnr elected as the new Chairman. These changes are part of a strategic move to reshape the company’s future, as stated by CEO Steve McCann.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced the closure of its Cleansing Offer, with no shares being issued under this prospectus. This development may impact the company’s financial strategy and market perception, as stakeholders might interpret the closure as a strategic decision in response to market conditions or internal assessments.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited has released a prospectus for its Cleansing Offer, which aims to remove trading restrictions on certain shares issued to Bally’s, Investment Holdings, and senior management. This move is intended to facilitate the trading of Conversion Shares and Incentive Shares, enhancing liquidity and flexibility for stakeholders.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
Star Entertainment Group Limited has announced a new application for the quotation of securities on the Australian Securities Exchange (ASX). This move involves the issuance, transfer, or reclassification of securities resulting from options being exercised or other convertible securities being converted. The proposed date for the issue of these securities is set for November 28, 2025. This development is part of the company’s ongoing efforts to manage its capital structure and enhance its market presence.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced the issuance of unquoted equity securities, specifically 8,988,525 performance rights and 197,365 service rights, as part of an employee incentive scheme. This move is aimed at aligning employee interests with company performance, potentially impacting the company’s operational efficiency and stakeholder engagement positively.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced the issuance of 2,930,509 performance rights as part of an employee incentive scheme. This move is aimed at enhancing employee engagement and aligning their interests with the company’s performance, potentially impacting the company’s operational efficiency and stakeholder value positively.
The most recent analyst rating on (AU:SGR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced the issuance of 3,048,089,389 unquoted convertible notes as part of a previously announced transaction. This move is likely to impact the company’s financial structure and could influence its market positioning by potentially increasing its capital base.
The most recent analyst rating on (AU:SGR) stock is a Sell with a A$0.09 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group has navigated a challenging financial year, culminating in a strategic investment of $300 million by Bally’s Corporation and Investment Holdings Pty Ltd, which now collectively hold 61% of the company’s issued capital. This investment, along with asset sales and governance enhancements, aims to stabilize the company’s financial position and restore its casino licenses. The company is undergoing significant board renewal, with new directors appointed to enhance oversight and compliance, though material uncertainties remain regarding its ongoing viability.
The most recent analyst rating on (AU:SGR) stock is a Sell with a A$0.09 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited has received regulatory approvals from the NSW Independent Casino Commission and the Queensland Office of Liquor and Gaming Regulation for strategic investments by Bally’s Corporation and Investment Holdings Pty Ltd. This approval allows for the conversion of a $300 million investment into equity and the appointment of new directors to The Star’s board, marking a significant step towards financial stability and operational suitability. The approvals also include conditions for Bally’s to improve The Star’s financial performance, indicating a positive shift in the company’s strategic direction.
The most recent analyst rating on (AU:SGR) stock is a Sell with a A$0.09 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited announced that the performance rights granted to executives and senior managers for the financial year ending June 30, 2022, have lapsed. This is due to the failure to meet the performance hurdles set in the company’s Long Term Incentive Plan, which included earnings per share, relative total shareholder return, and return on invested capital. The lapse of these performance rights may impact executive compensation and could reflect challenges in meeting financial targets, potentially affecting stakeholder confidence.
The most recent analyst rating on (AU:SGR) stock is a Sell with a A$0.09 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
The Star Entertainment Group Limited has announced the appointment of Mr. Don Pasquariello as a Non-Executive Director, pending regulatory and ministerial approvals. With over 40 years of experience in audit, assurance, and professional services, Mr. Pasquariello brings significant expertise in corporate governance and risk management, which is expected to aid the company’s ongoing remediation and cultural reset efforts, positioning it for sustainable long-term growth.
The most recent analyst rating on (AU:SGR) stock is a Sell with a A$0.09 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.