Star posts a $9m half-year profit despite ongoing legal woes

Star posts a $9m half-year profit despite ongoing legal woes
Edited by Travel Weekly


Star Entertainment Group has posted a net profit after tax of $9m for the first half of the 2024 financial year despite legal problems plaguing the casino group.

Star Sydney’s gambling licence has once again come at risk as the NSW Independent Casino Commission (NICC) ordered another inquiry into the property. Despite this, the group reported an earnings before interest, taxation, depreciation and amortization of $114m for 1H24.

The company attributed the revenue and earnings at all it properties to the implementation of “necessary uplift in the control environment.”

Star argued that this resulted in an increased number of guest exclusions and reflected the introduction of time play management of guests, higher levels of risk and compliance resourcing, higher remediation costs and increased competition together with a weaker discretionary spending environment.

Star Group CEO and managing director, Robbie Cooke, said his company has achieved a number of significant milestones despite the challenging regulatory environment.

“The Group’s Remediation Plan was approved in Queensland. The resolution of the proposed increase to NSW casino duty rates has removed significant uncertainty for our Sydney property and has protected thousands of jobs for our team members in New South Wales,” Cooke said. Despite the group’s achievements, Cooke admits there is “still much work to be done.”

“Remediation remains our number one priority,” he said. “We continue to uplift our risk management, safer gambling and AML capabilities and are starting to embed greater accountability and more robust governance. We have invested in enhancing our control environments and are operationalising and embedding these controls. We are improving our financial crime management and have commenced the introduction of significant harm minimisation measures. Our remediation program will track and hold us accountable to the multi-year program we are committed to delivering.

Going forward, Star said it is looking to keep focusing on its remediation plan and to continue focusing on safer gambling along with a culture transformation.

The swing back to profit follows a $1.26b loss for the same period in the 2023 financial year. This poor result came amid a class action law suit from shareholders and the suspension of Star Sydney’s casino licence.

Featured Image: Star Sydney – iStock/kokkai

Latest News

  • Business Travel
  • Conferences

New Zealand International Convention Centre to open in February 2026

The New Zealand International Convention Centre (NZICC) has announced it is opening its doors to New Zealand and world conferences and events in February 2026. The long-awaited NZICC is set to transform New Zealand’s conference and events industry, boosting visitation and the wider economy with its world-class facilities. Located in the heart of Auckland’s CBD, […]

  • Events

CENTREPIECE is set to make a splash at AIME 2025

CENTREPIECE is set to make a splash at AIME 2025 with a one-of-a-kind activation that showcases their world-class event capabilities to inspire event planners and decision-makers. CENTREPIECE is located in the heart of Melbourne & Olympic Parks, Victoria’s epicentre for live sports and entertainment and home to world-renowned venues including Rod Laver Arena, AAMI Park, […]

  • Destinations
  • Tourism

NYC Tourism + Conventions announces two exciting new events

NYC Tourism + Conventions has announced ‘NYC Off-Broadway Week 2025’ and ‘Value Family Activities’ events lined up for this year. NYC Off-Broadway Week 2025 2-for-1 ticket sales for this event have begun with this season’s program featuring 29 Off-Broadway performances, including 18 new participants. The twice-yearly program runs from 17 February through 9 March with […]

  • Events
  • Tourism

Jeju wins bid to host 2028 Asia-Pacific Microscopy Conference

The Korea Tourism Organization (KTO) has successfully secured the 14th Asia-Pacific Microscopy Conference (APMC14) for Jeju in November 2028. This was achieved in partnership with the Korean Society of Microscopy, Jeju Special Self-Governing Province, Jeju Convention Bureau, and Jeju International Convention Center. Korea was selected as the final host after strong competition at the 13th […]