The Star Entertainment Group (ASX:SGR) has released its unaudited results for the half year ended Dec. 31, 2025, revealing a period of leadership transition and financial pressure.
Following the appointment of Bruce Mathieson Jnr as Group CEO in December 2025, the company has initiated a comprehensive restructure of its operations and marketing strategy.
Mathieson noted that the corporate office is being "streamlined" to manage essential support functions at the property level in Sydney, Gold Coast, and Brisbane to "strengthen our financial position."
The group reported a normalised revenue of $584.9 million and a normalised EBITDA loss of $7.6 million.
The statutory net loss for the period reached $109.7 million, which includes $34 million in post-tax items.
Trading conditions remain difficult, with total revenue dropping by 10% compared to the prior comparable period.
Gaming revenue specifically saw a 9% decline, attributed largely to the closure of the Treasury Brisbane Casino and the impact of new regulatory reforms, such as mandatory carded play and cash limits at The Star Sydney.
Despite these headwinds, the leadership remains focused on a "transparent, practical and sustainable pathway" for remediation.
Mathieson expressed confidence in the company's long-term outlook, stating, "We have immense potential in our properties, and we are committed to transforming The Star into premier entertainment destinations."