The result is an improvement on the $427.9 million net loss from the 2025 financial year.
Across its operating portfolio, The Star currently controls significant hotel inventory and event space in Brisbane and the Gold Coast and hotel inventory in Sydney. The company noted a decrease in revenue in Sydney due to the sale of its Event Centre there to Foundation Theatres, which have continued to run the spaces as business events spaces for now.
Despite the sizeable loss, The Star says its operating revenue has finally stabilised after close to two years of quarterly drops in revenue.
The business also flagged a $75 million reduction in corporate costs over the year.
It’s been a big year for The Star. It received a combined $300 million investment from the US Bally’s Corporation and the local Investment Holdings so that the pair now own more than 60 per cent of The Star Entertainment Group collectively. The investment saw the company take on a new CEO in Bruce Mathieson Jnr, whose family owns Investment Holdings, and a new board chair in Soo Kim, who is also chair of Bally’s Corporation.
it has offloaded its 50 per cent stake in Queen’s Wharf Brisbane, relieving itself of its guarantee for $700 million worth of debt attached to the precinct.
The Star has also appointed CEOs for its individual properties, with Ameet Patel overseeing both The Star Gold Coast and The Star Brisbane, while John Koster is leading The Star Sydney.
Since Mathieson Jnr took over as CEO, The Star says it has “undertaken a comprehensive review of the Group’s resourcing structure, operating model and strategic priorities”.
“We have moved to a more accountable, property-led operating model and a renewed focus on performance, customers, and responsible operations,” said Mathieson Jnr in The Star’s results release.
Our renewed focus on our customers has included improving service standards, strengthening customer engagement, enhancing our offerings and creating more compelling reasons for people to choose The Star.
“The group has successfully refinanced its corporate debt and continued the work of strengthening its balance sheet with a strong liquidity position. These achievements have provided greater stability and a stronger foundation for the future.
Returning to suitability remains critical to our future, and the work required to achieve that objective has and is being increasingly embedded in how we operate every day.
We have welcomed many new leaders to The Star over the past year, bringing fresh perspectives, deep industry experience and a shared commitment to improving patron experience, profitable operating performance and responsible operations.”
The Star was found unsuitable to hold casino licences in both New South Wales and Queensland in 2022 and is still working towards regaining suitability. The integrated resort operator is also still waiting on a penalty resulting from legal proceedings lodged against it by AUSTRAC, for regulatory failures, which it warns may impact its ability to continue operating.
In its results announcement for the financial year just gone, The Star noted an uptick in revenue for the current financial year, across its Sydney and Gold Coast properties, with July 2026 revenue up six per cent on July 2025.
