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The numbers tell one story. The tone of the report tells another.
For Star Entertainment, FY25 was less about profit and more about survival. The company’s latest annual report lays out a year of steep losses, cautious optimism, and slow recovery.
A challenging financial year
The figures reflect the weight of a company still rebuilding.
Revenue fell 29.2% to AU$1.19 billion, while EBIT slipped from a AU$54 million profit to a AU$142 million loss. The statutory net loss, however, improved from AU$1.69 billion in FY24 to AU$472 million, marking a sign of gradual recovery after two difficult years.
Chair Anne Ward opened her statement by acknowledging the toll of the year:
“In closing out another extremely challenging year I would like to extend my gratitude for your patience and support.”
Leadership shifts and new investment
A reshaped leadership team and renewed capital mark the next phase.
Ward pointed to Bally’s AU$300 million investment in the operator and changes within its executive team. She said:
“We have also given the CEOs of each of our properties increased accountability and greater authority to set strategy and direction as part of embracing direct and close supervision. This will enable the Group to focus on delivering the remediation plan, developing a company strategy and further strengthening our financial position.”
She added that Bruce Mathieson Jr, a nominee of Investment Holdings, the company’s largest shareholder, has joined the board as a Non-Executive Director.
Regulatory pressure remains high
The company continues to face scrutiny across Australia’s key gambling markets.
Ward described the past year as one of “challenge and renewal,” a theme echoed by Group CEO and Managing Director Steve McCann, who said:
“We appreciate the privilege and responsibility involved in holding casino licences in New South Wales and Queensland. We are committed to rebuilding The Star as a transparent and accountable organisation supported by robust governance, so that we may once again have the trust of all of our stakeholders.”
His remarks followed a series of investigations and licence suspensions that hit The Star Gold Coast and the operator’s New South Wales property during FY25.
Progress and sustainability
Even in a difficult year, the company continued to plan for the future.
The annual report highlights ongoing development of Tower 2 at The Star Gold Coast, as well as a new sustainability report focusing on governance, social impact, and environmental initiatives. It also includes detailed shareholder data, remuneration figures, and progress updates on the company’s remediation commitments.
Despite the losses, both Ward and McCann presented a tone of cautious optimism, one that leans on transparency, steady leadership, and a renewed commitment to compliance.
The question now is whether Star Entertainment can turn that optimism into lasting recovery, or if the company’s toughest tests are still ahead?
Source: Gambling Insider
