The Star Entertainment Group (formerly known as Echo Entertainment Group) is an ASX 100 listed company that owns and operates The Star in Sydney, Treasury Casino & Hotel in Brisbane and Jupiters Gold Coast on the Gold Coast.The Star Entertainment Group also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government. On November 16 2015 our parent company name changed from Echo Entertainment Group to The Star Entertainment Group following shareholder approval at the 2015 Annual General Meeting.At the core of The Star Entertainment Group’s premium offering at each property is the quintessential spirit of each destination with broad appeal for both local and international visitors. This is achieved through a long- term commitment to local relationships, leveraging deep local knowledge and insights, and enhanced by international best practice expertise. The recent $870 million transformation of The Star in Sydney is a tangible reflection of the company’s capacity and capability to invest significantly and effectively in its properties. On the Gold Coast, The Star Entertainment Group is currently spending $345 million to refurbish and expand Jupiters Gold Coast. The refurbishment of the existing hotel and casino complex is one of the biggest hotel refurbishments ever undertaken in Australia. On July 21 2015, The Star Entertainment Group and its Destination Brisbane Consortium partners were selected by the Queensland Government as preferred tenderer for the development of Queen’s Wharf Brisbane. On November 16 2015 The Star Entertainment Group reached contractual close with the Queensland Government on a $3 billion redevelopment of Queen’s Wharf in Brisbane.
The Star Entertainment Group, forced by government Covid-19 directives to cease gaming, banquet, and F&B operations in Sydney, Gold Coast, and Brisbane, leaving only limited hotel services, has announced that it was standing down about 90% of its workforce. A company statement explained, “The Star has taken a very difficult, but necessary, decision in relation […]
Australia’s casinos are expected to be forced to close their doors later this week, prompting analysts at JP Morgan to slash their earnings forecasts for the operators.
Australia-listed Star Entertainment reported a 2.1 percent increase in normalized NPAT, reaching A$126.4 million, driven by growth in the Gold Coast. Normalized revenue increased by 1.9 percent to A$1.1 billion, while EBITDA increased 3.5 percent to A$307.4 million, marking a new record for the company. In a media release, the Star Entertainment Group said it […]
A soft domestic outlook and potentially weak consumer sentiment over the next few months will subdue Star Entertainment Group’s earnings in their Sydney and QLD properties, according to analysts from JP Morgan. The brokerage announced earlier this week it has downgraded Star Entertainment Group (SGR) to Neutral. According to JP Morgan analyst Don Carducci, soft […]
The Star Entertainment Group and Konami announced the continuation of their partnership to bring Konami’s systems technology to its premium integrated resort locations across Sydney, Brisbane, and Gold Coast. For more than a decade, The Star has leveraged Konami’s SYNKROS casino management system to deliver dependable performance and fresh engagement opportunities throughout its portfolio. “Konami […]
Australian casino operator Star Entertainment Group is calling for a 30-year monopoly in the state of Queensland in exchange for its planned A$2 billion investment to upgrade its Gold Coast casino and convention center.
Star Entertainment Group’s plans for a six-star luxury hotel tower in Sydney has been rejected by the NSW Independent Planning Commission, with a three-person panel ruling that “the public benefits do not outweigh in the impacts associated with the application.” The decision from the Independent Planning Commission follows a similar decision made by the NSW […]
Various executives from Star Entertainment Group, including Matt Bekier, will be missing out on a share bonus after falling short of performance targets. In a filing to the ASX on Thursday, the casino operator said that no performance rights have vested due to the non-achievement of the performance hurdles on testing. The performance rights that […]
Australian casino operator Star Entertainment Group posted an 8.4 percent annual drop in profit, amid a fall in VIP gaming revenue. On Friday, the group said it saw net profit after tax of $224 million. VIP turnover was $42.4 billion, down 30.7 percent year-on-year. Star Entertainment chief executive officer told Reuters that high-stakes gamblers were […]
Star Entertainment Group chief executive Matt Bekier has defended the use of junkets, describing their use as a well-established feature of the gaming industry, local media reports. Bekier made the comments in the wake of an investigation into Crown Resorts for their alleged involvement with underground-affiliated junkets. “I can’t really talk to what Crown does, […]
The board of Crown Resorts has issued a strong rebuttal of allegations that it is linked to criminal figures who may be laundering money through Australian casinos, though the probe into its operations has now widened to include the country’s most powerful investigative body.
NSW’s Department of Planning has recommended the rejection of Star Entertainment Group’s proposed $500 million Ritz-Carlton branded hotel tower, local media reports. Last year, the casino company proposed a 66-story Ritz Carlton-branded tower, to be situated next to its casino building in Pyrmont. The tower would see 220 Ritz-Carlton hotel rooms and 200 high-end residences, […]
Construction has begun in earnest on SkyCity Entertainment’s $3.6 billion Queen’s Wharf Brisbane Development, with heavy machine moved onsite over the past weekend.
Australia’s Star Entertainment Group has cut its EBITDA forecast for fiscal 2019 and says it will slash hundreds of jobs to counter the impact of a sharp slowdown in its VIP business.
Additional hotel capacity at the Queen’s Wharf project will see the Star Entertainment Group (SGR) generate an additional A$43 million (US$30 million) in earnings per year starting in FY24, according to analysts from J.P. Morgan. Around 1000 rooms are being added to the project, which is set to open its casino and hotels in FY23. […]
While Australia’s casino operators have suffered from lower spending by Asian high-roller gamblers, analysts see potential VIP recovery in the 2020 financial year. In a report from Sydney Morning Herald, analysts from Macquarie Wealth Management said while they have an overall bearish view on the VIP market, they have observed a “U-turn” in mainland Chinese […]
Australia-listed Star Entertainment Group saw a 6.1 percent increase in gross revenue for the 2018 financial year, reaching A$2.5 billion. Net profit after tax fell 44 percent year-on-year to A$148.1 million, while EBITDA fell 19.2 percent to A$484 million. Star chairman John O’Neill said the growth in revenue was attributed to operational improvements across the […]
Star Entertainment Group and its Asian partners are carrying out one of the largest investment and refurbishment programs in Australia’s integrated resort market, amidst projections for surging inbound tourism.
The Star Entertainment Group has filed a development application for a $500 million project to bring a Ritz Carlton hotel to Sydney, significantly expanding amenities at its existing property in the city.
The standard slot machine maybe a product of the past, with the future gaming floor likely to involve more convergence with the online world, senior gaming machine executives told a panel at the Australasian Gaming Expo in Sydney.
Star Entertainment Group said its international VIP rebate business has continued to show strong growth into the second quarter, with turnover jumping almost 64 percent year to date.
Star Entertainment Group has expanded its strategic partnership with Hong Kong-based Chow Tai Fook and Far East Consortium as the companies bet on growing Chinese tourism to Australia. Under the accord, the Australian company will raise A$490 million (US$375.2 million) from the sale of shares. Both Chow Tai Fook and Far East Consortium will each […]
SkyCity Entertainment Group is looking to sell its Darwin casino business for at least A$200 million (US$154.3 million), but will have a hard time finding a buyer, according to a report from The Australian. Last month, in an investor presentation, SkyCity said that was aiming to divest its non-core businesses to focus on major projects, […]
Australia-listed Star Entertainment Group has announced it has expanded its strategic partners and will be raising A$490 million (US$375.2 million) from two of its Hong Kong-based partners, Chow Tai Fook and Far East Consortium. The strategic partnership will see both parties jointly pursue and participate in growth projects in, or adjacent to The Star’s current […]
Star Entertainment posted a 15.9 percent increase in H1 revenue as its international business rebounded, though statutory profit was hit by an abnormally low win rate. The company posted normalized revenue of $1.36 billion ($1.07 billion), though actual revenue gained just 3.3 percent to $1.27 billion compared with the prior year. The win rate in […]
Star Entertainment Group chairman John O’Neill says his company is in a state of “eternal vigilance” regarding losing its monopoly in the Sydney casino market, local media reports. However, rather than worrying about the direct competition for the gambling dollar, Mr O’Neil said the main threat will come from its competitor poaching staff rather than […]
Tangam Systems has announced it has entered into a five-year agreement with The Star Entertainment Group, which includes expanding Tangam’s Table Games Yield Management (TYM) software to The Star Entertainment Group’s Queensland properties. TYM is already in use at The Star’s flagship property in Sydney. With this agreement, Tangam enters a new milestone: optimizing all […]
Australian casino operator The Star Entertainment Group says it is looking forward to the 2018 Commonwealth Games, which it expects will generate “phenomenal” activity at its Gold Coast casino and hotel, local media reports. The Star is one of the main sponsors of the April 4-15 Commonwealth Games. “The Games look good for us,” The […]
Australia-listed Star Entertainment Group reported record statutory earnings for the 2017 financial year, helped by strong domestic revenue growth in the second half of FY17. Statutory net profit after tax (NPAT) was A$264.4 million, up 36 percent year-on-year, supported by FY17H2 domestic revenue growth and high win rate in International VIP Rebate However, normalized NPAT […]
A merger between Australian casino operators Crown Resorts and Star Entertainment Group could deliver up to A$100 million (US$77.4 million) in cost synergies, according to Citi analysts who ran the numbers on the hypothetical deal. Citi analyst Rohan Sundram said while the tie up between the two companies was “merely speculation”, he believed a merger […]
Malaysian casino operator Genting Group has sold its stake in Australia’s The Star Entertainment Group for A$235.2 million (US$181.9 million), local media reports. Genting said it sold 46.4 million shares, representing 5.62 percent of the issued capital at A$5.07 each, giving it a net gain of $67.5 million on its investment. The Genting Group initially bought […]
The $3 billion development on the Queen’s Wharf in Brisbane will begin selling apartments related to the project in the 2019 financial year, local media reports. The IR is a venture between Star Entertainment and Asian investors including Far East Consortium. It is expected that the Queen’s Wharf apartments will launch on to the market […]
Star Entertainment Group chairman John O’Neill says Australia has the potential to attract at least five times as many Chinese visitors as it does today, but warns against relying too heavily on the market. “We have got, at all costs, to avoid complacency with China,” he said in an interview with The Weekend Australian. “The […]
Casino operator The Star Entertainment Group says its international VIP business continues to be impacted by the detention of employees of Crown Resorts in China last year. In a presentation to the Macquarie Securities Australia Conference on Wednesday, the operator said it had been diversifying into global VIP markets starting 2015 – focusing on large […]
Jupiters Hotel and Casino, operated by The Star Entertainment Group, has officially been renamed as The Star Gold Coast. The five-star facility, located on Broadbeach in Queensland, Australia, will be joined by a new six-star luxury hotel at the front of the property and is aiming to open before the Gold Coast 2018 Commonwealth Games. […]
Queensland is seeking expressions of interest for a third casino in the state after plans for an A$8.1 billion ($6.2 billion) dollar investment from the Aquis Group, backed by Hong Kong investor Tony Fung, were dropped. Speaking at the ASEAN Gaming Summit, David Edwards project CEO of State Development, said there had been strong interest […]
The Star Entertainment Group posted net profit after tax of A$141.8 million (US$109.5 million) for the half year ended Dec. 31, 2016, according to a company filing to the ASX. The results were 135.2 percent higher year-on-year than the prior comparable period, which was impacted by a high win rate in the International VIP Rebate […]
The Star Sydney has been named Casino Operator of the Year Asia/Australia at the 10th Annual International Gaming Awards held on February 6, 2017. According to a press release from the operator, the International Gaming Awards judges recognized The Star’s robust vision, originality and vitality across brand identity, marketing, customer service and innovation that successfully […]
The international consortium led by casino operator The Star Entertainment Group has completed the acquisition of the Sheraton Mirage Resort at the Gold Coast, according to a company filing to the ASX. The international joint venture includes Hong Kong-based Chow Tai Fook Enterprises and Far East Consortium. It is understood that Star will take a […]
Casino operators have been slowly ramping back up marketing activity in China after pulling out last year in fear of further repercussions from Crown’s crackdown. In October, 18 employees of Crown were arrested for allegedly marketing its casinos and VIP rooms to Chinese nationals, prompting other casino operators to pull out their marketing teams in […]
The Star Entertainment Group is understood to be working out the options for a potential merger with New Zealand’s Skycity Entertainment Group, according to sources quoted by The Australian. “It is understood that The Star Entertainment Group’s chief executive, Matt Bekier, has expressed his willingness to embark on a merger with the rival casino operator […]
Brokerage CLSA says it expects to see a fall in Chinese VIP in Australia’s market in the 12 months following the arrests of 18 Crown Resorts staff in China. In a note on Thursday, the brokerage presented several scenarios of how Australia’s VIP market may play out following the arrests. “The charges (if any) are […]
The slump in Star Entertainment Group’s share price following the Chinese arrests of Crown Resort’s employees was overdone, according to analysts. A report from The Australian quotes Credit Suisse analyst Larry Gandler, who argues the Crown issue was not industry-wide, evidenced by stable Macau casino share prices. “If there was a VIP crisis, would market […]
An international joint venture led by Star Entertainment is finalizing a deal to pay up to A$160 million ($121.7 million) for a beachfront resort in Queensland, local media reports. The gaming company, which is working in conjunction with Hong Kong developer Far East Consortium and retailer Chow Tai Fook, is hoping to see a revamped […]
Australia-listed Star Entertainment has been formally granted a new casino license for its Queen’s Wharf Brisbane project. The casino license will be issued to a joint venture entity of which The Star Entertainment Group has a 50 percent interest, said the company in a filing to the Australian Stock Exchange on Friday. The issuing of the license […]
Casino executive Matt Bekier says The Star will be doubling its efforts to attract the lucrative Chinese tourist, reports local media. “The typical Chinese visitor to Australia spends about $8000 [on their trip],” Bekier told The Australian Financial Review. “Twenty five per cent of them find their way to one of our casinos and on […]
Overseas (ex-Macau) VIP gaming revenue grew 27 percent year-on-year in 16Q2 after two years of negative growth, said Morgan Stanley in a note on Tuesday. “Part of that was driven by new casinos in Saipan /Vladivostok and part from junkets moving to low tax jurisdictions like the Philippines,” said the brokerage, referring to Imperial Pacific’s […]
At least one investment Bank is understood to have pitched Malaysia’s Genting Group on a potential block trade of its stake in Star Entertainment Group this week, said sources quoted by the Australian Financial Review. Genting, owned by Malaysian gaming mogul KT Lim, holds a 6.6 percent stake in Star Entertainment. It has been approved […]
Australia-listed Star Entertainment Group says strong earnings growth continued in its full year 2016, with good revenue growth across all lines of business. In a filing to the Australian Stock Exchange on Friday, the casino operator reported normalized net profit after tax of A$241.3 million ($183.9 million), up 23.4 percent, and normalized EBITDA of A$556 […]
Australian casino operator Star Entertainment Group is set to outperform its major rival, Crown Resorts, with Asian tourists increasingly opting to travel to Australia’s east coast, The Australian reports. While both Crown and The Star will benefit from international tourism growth, The Star was seen by analysts as slightly better placed to benefit from “superior” […]
SkyCity is likely to deliver a “positive surprise” this results season, while Crown and Ainsworth are likely to underwhelm, said CLSA in a note on Wednesday. “SkyCity is our pick of the gaming stocks to deliver a positive surprise this reporting season, but in the company’s 1H17 trading update rather than the result,” said the […]
A former chair of the NSW Independent Liquor and Gaming Authority says Sydney’s Star Casino is at ‘major risk’ from organized crime after dramatic changes to casino regulation in NSW, ABC News reports. Chris Sidoti, who quit his post in February, said last year’s legislative changes which shift specialist casino inspectors into a larger pool […]
Australian casino operator Star Entertainment is set to announce a further investment in its Queen’s Wharf casino development on the Gold Coast, reports Brisbane Times. The operator, previously already announced plans for a $850 million development of its Jupiter’s site, with two towers including a 4.5 star hotel in the first stages of construction. On […]
HK-listed Jimei International Entertainment Group said it had entered into junket agreements with Australian and Cambodian casinos last year, according to its 2015 annual report. In February 2015, the junket investor signed an arrangement with Crown Perth to promote approximately 8 to 10 gaming tables at the Crown Perth Casino. In May, the group also […]
Australia’s Star Entertainment Group is in talks with state-owned China Travel Service, reports the Sydney Morning Herald. According to the Australian newspaper, The Star is in the “final stages” of agreeing a deal with China Travel Services. The deal is being brokered by Hong Kong-based Far East Consortium to “funnel a chunk of China’s fast […]
Australia-listed Crown Resorts is reportedly in secret negotiations with a Chinese-backed consortium to build and operate a A$2 billion (US$1.5 billion) waterfront casino on the Gold Coast, The Australian reports. The ASF consortium, consisting of two Chinese stated-owned partners is reportedly negotiating with Crown to operate the casino, which will be located on the Gold […]
Casino operator SkyCity Entertainment Group says it is not opposed to a takeover approach from Australia’s Star Entertainment, but will not instigate talks, local media reports. Chris Moller, chairman of the New Zealand-listed operator denied any approach or talks with The Star during an investor call on Monday, but the board was not opposed to […]
Chinese outbound travellers are increasingly looking for longer-haul destinations away from the mainland, according to China’s Outbound Tourism Research Institute. Published in the Spring 2016 issue of the COTRI Market Report, the research notes that Chinese outbound travel has increased with double-digit growth in 2015. According to CLSA analysts, the Chinese thirst for outbound travel […]
Australia-listed Star Entertainment Group’s chief executive Matt Bekier has called for the Queensland Government to increase investments in order to attract cashed-up Chinese and Indian tourists, local media reports. Bekier, who spoke at an Australian Institute of Company Directors lunch on Tuesday, said the state must prepare for a tourism boom. “The reality is we […]
Star Entertainment said its interim revenue and profit in the six months to end December declined due to a low win rate in its international VIP rebate business. The group reported net profit after tax of A$60 million ($42.6 million), down 37.9 percent on the prior comparable period. Normalized NPAT before items was up 26.1 […]
Star Entertainment Group has announced plans to build a second tower at its Gold Coast Jupiters Casino site, according to local media. The group has revealed it has begun the planning process for its new 200-meter hotel tower, which will be in addition to an AU$345 million (US$245 million) refurbishment of the existing hotel […]
Sydney casino operator The Star is officially booked out over the busy Chinese New Year period with Chinese patrons, according to local media. The Star managing director Greg Hawkins said there was a significant demand for its restaurants, hotel rooms and casino facilities, with over 4000 rooms booked over the next fortnight. Hawkins says patrons […]
Increasing Chinese tourism in Australia is likely to be good news for Sydney’s Star casino, which is well positioned to capture this spending, according to a Morgan Stanley report. The Star Entertainment Group outperformed the ASX200 by 36 percent in 2015 on the back of Australia’s global VIP market share gain, which went up from […]
From India to Australia, casinos across the Asia Pacific region have closed their doors in response to efforts to combat the spread of the coronavirus, with little to no visibility at present as to the evolution of the situation.
As concern mounts about the global environment, many of Asia’s giant IRs are taking significant steps to minimise their impact, investing heavily in green technologies and other waste control initiatives.
The deadly attack on Resorts World Manila (RWM) last year was a wake-up call for casino resorts in the Philippines and across the wider region, leading to calls to improve security and properly assess the risks facing each jurisdiction. There is no one-size fits all solution, therefore security experts say a clear understanding of the potential threats is key.
Beijing’s policies are once again creating waves across the Asian gambling scene and may force a rethink of how regional operators reach mainland Chinese customers.
While casinos spend millions on their loyalty programs, so many commit common failures that brings these programs crashing to the ground.
As regional gambling revenue slumps, some companies are finding a new marketing strategy isn’t enough to draw the crowds and instead are trying for a complete rebrand. Operators such as Star Entertainment, Donaco and Macau junket Tak Chun has all recently tweaked their image. However, rebranding is a complicated and costly process, especially if you get it wrong.
The Star Entertainment Group, formerly known as Echo Entertainment Group, is undergoing a group-wide renaissance, reshaping its brand identity and revamping its properties to take advantage of a forecast surge in Asian tourism. Group CEO Matt Bekier says he's convinced the next "boom" for Australia will come from tourism and is positioning the brand to benefit.