The Star Entertainment (ASX:SGR) posts revenue decline, swings to profit in H1 FY24

The Star Entertainment Group posted a 14.6% decrease in revenue to $865.7 million for the first half of FY24, influenced by lower premium gaming revenue and operational restrictions.

The decline in revenue was also linked to reduced discretionary spending and competition with pubs, clubs, and Crown Casino in New South Wales.

While no interim dividend was declared, the company shifted from a significant loss to a net profit of $9.1 million after tax.

The casino operator's EBITDA was $113.6 million, excluding significant items.