Star Entertainment Group Limited · ASX:SGR
Star Entertainment — FY2026 Earnings Presentation
28 slides from Star Entertainment's earnings presentation, Aug 31, 2026
Slide 1: The Star Entertainment Group FY26 Results ASX and Media Release
ASX AND MEDIA RELEASE 31 August 2026 THE STAR ENTERTAINMENT GROUP FY26 RESULTS 1 The Star Entertainment Group Limited (ASX: SGR) (The Star, the Group or the Company) today released its results for the full year ended 30 June 2026 (FY26). Highlights for FY 2026: - Completion of $300 million equity in
Slide 2: Summary
and operational functions, optimise the cost base and improve organisational effectiveness. Annualised 4Q FY26 Group corporate costs of $178 million represents a reduction of $111 million, or 38%, compared to FY25 with ongoing initiatives continuing to seek further improvement during FY27. These ini
Slide 3: Subsequent Trading Update
• Result for the period includes operator fee revenue of $59.7 million from operating The Star Brisbane, which is in accordance with The Star’s previously announced transaction with Chow Tai Fook Enterprises Limited and Far East Consortium International Limited (the Joint Venture Partners or JVPs) t
Slide 4: Management Focus and Initiatives
The Star continues to work with its joint venture partners to satisfy the outstanding conditions and remains committed to completing the second stage of the JVP Transaction in a timely manner. Management Focus and Initiatives • The Star continues to prioritise a return to suitability including deliv
Slide 5: FY26 Results Key Financial Metrics
FY26 RESULTS KEY FINANCIAL METRICS FY26 FY25 Net revenue (normalised) $1,101m $1,125m EBITDA ($16m) ($76m) EBIT ($76m) ($135m) Share of net loss of associates ($1m) ($2m) Net profit after tax (NPAT) (normalised) ($159m) ($162m) Significant items (net of tax) ($144m) ($105m) Discontinued operations (
Slide 6: FY26 Results Presentation
FY26 RESULTS PRESENTATION 31 August 2026 The Star Entertainment Group Limited ABN: 85 149 629 023
Slide 7: Disclaimer
disclaimer This presentation (Presentation) contains summary information about The Star Entertainment Group and its subsidiaries (TSEG or the Group) and their current activities. It should be read in conjunction with the Group’s other periodic and continuous disclosure announcements lodged with the
Slide 8: Basis of Preparation
BASIS OF PREPARATION • Information in this presentation is provided as at the date of the presentation unless specified otherwise. It should be read in conjunction with The Star Entertainment Group Limited’s (TSEG, The Star or the Group) Appendix 4E for the twelve months ended 30 June 2026 (Prelimin
Slide 9: Agenda
AGENDA 1. Business Update 2. FY26 Financial Results 3. Trading Update 4. Appendices
Slide 10: Business Update
BUSINESS UPDATE
Slide 11: Business Update – FY26 Overview & Liquidity and Refinancing
BUSINESS UPDATE – FY26 overview & LIQUIDITY AND REFINANCING • FY26 normalised revenue was $1,101 million1, down 2% from FY25. The reduction in revenue reflects the ongoing softness in the table games market, particularly in Sydney, partially offset by growth in slots across all properties. • FY26 EB
Slide 12: Business Update – Strategic Investment & JVP Transaction
BUSINESS UPDATE – STRATEGIC INVESTMENT & JVP TRANSACTION • As announced to the ASX in April 2025, The Star entered into a strategic investment in the form of a multi-tranche convertible note and subordinated debt instrument for a principal value of $300 million with Bally’s Corporation (Bally’s) and
Slide 13: FY26 Financial Results
FY26 FINANCIAL RESULTS
Slide 14: FY26 Financial Overview
FY26 FINANCIAL OVERVIEW Gaming Taxes & Levies Normalised revenue FY26 -$256.7m $1,101.0m1 FY25 -$267.2M FY25 $1,125.2M EBITDA (before significant items and discontinued operations) 59.7 -$16.1m FY25 -$76.2M Significant items (before discontinued operations) (after tax)2 -$144.3m 420.0 621.3 FY25 -$1
Slide 15: Group Profit and Loss
GROUP PROFIT AND LOSS FY26 $’million FY251 $’million Variance % Commentary • Group revenue declined 2.2% to $1,101.0 million, due primarily to a 5.3% decline in Gaming revenue 756.2 798.2 (5.3%) gaming revenue which was largely impacted by challenging trading conditions in The Star Non-gaming and ot
Slide 16: The Star Sydney Results Overview
THE STAR SYDNEY RESULTS OVERVIEW Normalised results FY26 $’million FY25 $’million Variance % COMMENTARY EGMs 225.8 222.1 1.7% Revenue Tables 274.0 327.6 (16.4%) • Gaming revenue down 9.1% to $499.8 million, reflecting softer table games driven by the ongoing impact of uplifted regulatory controls an
Slide 17: The Star Gold Coast Results Overview
THE STAR GOLD COAST RESULTS OVERVIEW Normalised results FY26 $’million FY25 $’million Variance % COMMENTARY EGMs 186.9 176.5 5.9% Revenue Tables 69.5 72.0 (3.5%) • Gaming revenue increased 3.2% to $256.4 million, reflecting strong growth in electronic gaming machines Non-gaming 158.0 157.7 0.2% • No
Slide 18: The Star Brisbane Results Overview
The Star Brisbane RESULTS OVERVIEW Normalised results FY26 $’million FY25 $’million Variance % COMMENTARY Operator fee revenue 59.7 29.6 101.7% Revenue Operating expenditure (excl Corporate) (5.2) (0.6) (766.7%) • Revenue of $59.7 million reflects the operator fee revenue recognised by The Star for
Slide 19: Group Corporate Costs
Group Corporate COSTS Group Corporate Overhead Expenses ($m) COMMENTARY • Between FY22 and FY24, The Star's corporate costs increased by $86 million, largely driven by higher expenditure on transformation and remediation activities +18% • Under the new leadership team, The Star has continued to -4%
Slide 20: FY26 Cash Flow Bridge
FY26 - Cash Flow Bridge Cash and Cash equivalents Position Asset Value ($m) Asset Value ($m) Cash at bank 250 Cash at bank 234 Cage cash 17 Cage cash 33 Cash and cash equivalents 267 Cash and cash equivalents 267 Long term deposits - restricted1 32 400 Long term deposits - restricted1 97 Interest re
Slide 21: Trading Update
TRADING UPDATE
Slide 22: Trading Trends Update
COMMENTARY trading TRENDS update Improved trading results in July 2026 driven by strong YOY Slots revenue growth at both The Star Sydney and The Star Gold Coast, partially offset by declines in Table Games and Non-Gaming revenues. Total combined revenues at the two properties reached a nadir in Q3 F
Slide 23: Appendices
APPENDICES
Slide 24: Group Balance Sheet
GROUP BALANCE SHEET June 2026 June 2025 $’million $’million COMMENTARY Cash and cash equivalents 267.1 267.0 Trade and other receivables 17.2 21.1 • Cash and cash equivalents of $267 million, representing $250 million Inventories 10.8 10.7 of cash at bank and $17 million of cage cash Assets held for
Slide 25: Corporate Allocation
Corporate Allocation Property normalised results ($m) COMMENTARY The Star Sydney FY26 recast FY26 • Following the opening of The Star Brisbane in August 2024, the Group revised its corporate cost allocation methodology Net Revenue 621.3 621.3 effective September 2024, allocating: Gaming taxes and le
Slide 26: Casino Licences, Remediation Plan, Regulatory & Major Claims Update
Casino Licences, Remediation Plan, REGULATORY & major claims UPDATE • The current status of The Star’s casino licences is as follows: – The Star Sydney’s casino licence remains suspended and the Manager’s term of appointment for The Star Sydney currently extends to 30 September 2026. CASINO LICENCE
Slide 27: Glossary of Terms
GLOSSARY OF TERMS Term Definition AML/CTF Anti-Money Laundering and Counter-Terrorism Financing AUSTRAC Australian Transaction Reports and Analysis Centre D&A Depreciation and Amortisation DBC Destination Brisbane Consortium DGCC Destination Gold Coast Consortium Tables Tables includes main gaming f
Slide 28: Thank You
THANK YOU
Star Entertainment Group — FY2026 Earnings Presentation on 6ix