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Star Entertainment shines with domestic gaming revenue rising 37%

Posted:: May 06, 2021 11:28 Category: Land-Based , Casino , Posted by Kevin

The gaming industry of Australia is quickly recovering from Covid, with high hopes for the second half of the year

In the 2H FY2021 report released on May 6, Star Entertainment Group announced that its domestic gaming revenue has risen by 37% for the period between Jan 1 and May 3 and group revenue in total by 35%. The same period of the prior year had been dragged down in revenue heavily due to property closures in March as counter-Covid measures.

graphPre-pandemic levels are not yet reached however, as health safety restrictions are still impacting operations. Compared to the same period in 2019, domestic gaming revenue was down 10% and group domestic revenue 12%.

Some sectors of the company however, have even grown in comparison to 2H FY2019, including slots by 3%. The Gold Coast was up 18% in domestic gaming revenue and 11% in total domestic revenue. Brisbane was up 3% in both categories when compared to 2019, despite the shutdowns in January and March.

Sydney struggled more due to more onerous constraints on the property, bringing domestic gaming revenue down by 22% and total domestic revenue by 24% in comparison to pre-pandemic levels. VIP turnover is “negligible given the border closures”, the report states.

According to the report, the numbers are still impacted by Covid-constraints. Nevertheless, the global trend shows that the gaming industry is recovering and the world is normalising. In the US, casinos are returning to full capacity due to fully vaccinated staff, as was reported on SiGMA News. Such practices are likely to spread throughout the industry.

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