The Star Entertainment Group, an Australian casino & hospitality company, has published its financial report for the second quarter of the fiscal year. As the operator’s struggles continue, it reported “limited” opportunities to raise funding in the absence of liquidity solutions.
Profits Went Down, EBITDA Loss Narrowed
In the three months ended December 31, Star Entertainment posted revenue of AUD 299 million ($187.5 million), down 15% quarter-on-quarter. In addition to that, the company reported an EBITDA loss of AUD 8 million ($5.02 million), representing a significant improvement from the AUD 18 million loss in Q1.
The company attributed the decline in revenue to several factors,…