Good morning. Cutting losses is progress, but The Star is not out of the woods. Its June-quarter EBITDA loss narrowed 70 percent year-on-year to $5.6 million, helped by lower costs and stronger Gold Coast volumes, while Sydney remained weak and the group warned that material going-concern uncertainties persist. In Macau, CreditSights expects Wynn Macau’s 2027 capex to reach $700 million to $750 million, above its annual free cash flow in any year since 2023. China, meanwhile, plans to launch a global anti-fraud alliance with more than 40 interested countries in September.
What you need to know
- The Star’s EBITDA loss narrowed 70% year-on-year, but Sydney remained at historical lows and going-concern risks persisted.
- CreditSights says Wynn Macau’s 2027 capital spending will exceed recent annual free cash flow and could place further pressure on leverage.
- China will establish an international anti-fraud alliance in September, with more than 40 countries interested in participating.
On the radar
- Galaxy captures 43% of premium-mass wagers during volleyball event.
- PhilWeb adds Games Global content to Philippine gaming platform.
- Macau hotel occupancy drops to 88.5% in June.
- Iris secures Queensland approvals for Reef Casino Trust bid.
AGB Intelligence
AUSTRALIA
The Star cuts June-quarter EBITDA loss by 70%, risks remain
Cost reductions and stronger gaming volumes at The Star Gold Coast helped the casino group cut its June-quarter EBITDA loss by 70 percent year-on-year to $5.6 million. Revenue declined by 2 percent to $185 million, as continued weakness in Sydney and lower operator-fee revenue from The Star Brisbane offset the stronger Gold Coast result.
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