Key Points
- Why it matters: Star booked a $2.2 billion impairment of its Sydney, Gold Coast and Brisbane casinos.
- The group had a $2.4 billion annual loss.
- Star is still waiting on the outcome of legal action commenced by AUSTRAC.
Star Entertainment has blown out to a $2.4 billion loss after the embattled operator wiped more than $2 billion from the value of its Sydney, Gold Coast and Brisbane casinos.
The company announced a $2.2 billion non-cash impairment of The Star Sydney, The Star Gold Coast and Treasury Brisbane as revenue climbed 22 per cent to $1.9 billion for the 2023 financial year.
Star Entertainment boss Robbie Cooke says remediation is the companys top priority. Louie Douvis
Star c…
Read the full article at: https://www.afr.com/companies/games-and-wagering/embattled-star-reports-2-4b-loss-after-major-casino-writedown-20230829-p5e072