Star Entertainment posts wider annual loss
Australian casino operator Star Entertainment reported a larger than expected annual loss of 307.3 million Australian dollars. The company warned that difficult trading conditions would persist amid weak table gaming revenue and pending regulatory penalties.
Insights:
Australia's Star Entertainment posted a statutory net loss after tax of A$307.3 million ($220.0 million) for the year ended June 30, missing consensus estimates. The loss narrows from A$427.9 million a year earlier, but exceeds the A$180 million statutory forecast predicted by Visible Alpha.
