SGR: Trading Update, Cost Initiatives & Sydney Strategic Review

THE STAR ENTERTAINMENT GROUP LIMITED

• The Star Entertainment Group provides an update on FY23 earnings outlook, citing significant and rapid deterioration in operating conditions, especially at The Star Sydney and The Star Gold Coast.
• Announces cost and restructuring initiatives to respond to the worsening operating environment, mainly due to regulatory restrictions and weak consumer spending.
• Initiates a strategic review of The Star Sydney, with FY23 underlying EBITDA expected to be between $280 million to $310 million, excluding significant items.

2023-04-19 09:23:00