Star Entertainment Posts Profit
Australian casino operator Star Entertainment posted a first-quarter profit of A$12 million driven by cost cuts and strong revenue from its Sydney and Gold Coast operations. The company held A$239 million in cash while its shares jumped up to 17.4 percent following the announcement.
Australia's Star Entertainment posted a first-quarter EBITDA of A$12 million ($8.42 million) on Tuesday morning, rebounding from a loss of A$13 million in the year-ago period.
