The Star Entertainment Group reported a statutory net loss after tax of A$307.3 million for the 2026 financial year, according to results covered by The Motley Fool Australia. Normalised revenue fell 2% to A$1,101 million, and the shares dropped almost 4% on the day of the announcement. The update left regulatory suitability and licence restoration in New South Wales and Queensland as the central unresolved issues for the casino operator.
FY26 headline results
The ASX-listed group said normalised revenue for the year was A$1,101 million, a 2% decline from FY25. Its normalised EBITDA loss before significant items narrowed to A$16.1 million from A$76.2 million a year earlier. The statutory net loss after tax came in at A$307.3 million. Corporate costs were cut by A$75 million during the year, with management targeting further savings, and the company held A$267 million in cash and cash equivalents at year-end. No dividend was declared.
Market reaction and valuation
The Star Entertainment share price fell almost 4% on Monday after the results, according to The Motley Fool Australia. The shares had gained around 13% over the previous year and outperformed the S&P/ASX 200 index. A later Yahoo Finance UK analysis noted that the stock had fallen about 29% from the start of 2026 to trade at A$0.12, after opening the year around A$0.18. The same analysis contrasted a more optimistic fair-value assumption of A$0.20 with a cautious one of A$0.09, leaving the current market price between those reference points.
Stabilising revenue and cost reductions
The company reported that property-level revenue had steadied in the fourth quarter, ending a period of almost two years of falls. Combined revenue for July 2026 rose 6% from the same month a year earlier, which management attributed to better customer engagement and higher marketing outlay. Chief executive and managing director Bruce Mathieson Jnr said the operator had adopted an operating model that is more accountable and property-led, with renewed attention on performance, customers and responsible operations. He said returning to suitability remained critical.
Balance sheet actions and regulatory pressures
Bally's Corporation and Investment Holdings put A$300 million into the business as an equity investment, and the company wrapped up the initial phase of the JVP Transaction, ending a guarantee of A$700 million that had been attached to DBC debt. Board and executive changes were made in December 2025, and management said operational changes and cost reductions followed. Separately, Yahoo Finance UK reported that a tax office settlement returned A$33 million to the company but still resulted in a net charge of roughly A$55 million, a sign of continuing regulatory and legacy pressures.
The company plans to complete the second stage of the JVP Transaction by March 2027. Management expects earnings to keep improving in FY27, helped by additional cost savings, operational adjustments, and a new way of directly attributing corporate costs. However, the group remains cautious because of material uncertainty about regulatory outcomes, profitability, and whether casino licences will be restored.
