As the country’s lockdown restrictions are eased, Australian casino operator Star Entertainment Group has stated that trading is exhibiting improving trends. It owns casinos in Sydney, Brisbane, and the Gold Coast.
“Performance continues to go down due to COVID-19-related operating restrictions. But trading in the 2H FY2021 is showing improving trends as the COVID-19 restrictions ease,” the company said. Domestic gaming revenue increased 37% from January 1 to May 3, 2021, compared to the prior comparable period. Domestic revenue for the group is up 35% compared to the same period last year.
“When compared to the same period in 2H FY2019, group domestic gaming revenue was down 10%, and group domestic revenue was down 12% in the period from January 1 to May 3, 2021. The Gold Coast has performed well, with domestic gaming revenue up 18%. And total domestic revenue up 11% over the same period last year.
Despite the shutdowns in January and March, Brisbane is doing well. Its domestic gaming revenue and total domestic revenue are up 3% over the same period in FY2019. Given the more onerous constraints on the property’s operations, Sydney has lagged, with domestic gaming revenue down 22% and total domestic revenue down 24% compared to the same period in FY2019. Given the border closures, VIP turnover remains low.”