{"id":42862,"date":"2020-08-20T07:48:24","date_gmt":"2020-08-20T07:48:24","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=42862"},"modified":"2020-08-20T07:48:24","modified_gmt":"2020-08-20T07:48:24","slug":"star-casino-announces-95-million-loss","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/star-casino-announces-95-million-loss\/","title":{"rendered":"Star Casino Announces $95 Million Loss"},"content":{"rendered":"<div id=\"attachment_30352\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-30352\" class=\"size-medium wp-image-30352\" src=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/10\/star-ent-300x198.png\" alt=\"\" width=\"300\" height=\"198\" srcset=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/10\/star-ent-300x198.png 300w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/10\/star-ent-220x146.png 220w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/10\/star-ent.png 635w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-30352\" class=\"wp-caption-text\">The Gold Cost casino resort<\/p><\/div>\n<p style=\"text-align: left;\">Australian casino operator, Star Entertainment announced its yearly results showing a loss of $94.6 million loss compared to previous year that represents a 148% drop in profits.<\/p>\n<p style=\"text-align: left;\">The company said that the COVID-19 pandemic which forced it to close its businesses in Brisbane, Gold Coast and Sydney in April and since reopening had seen a major decline on customer visits.<\/p>\n<p style=\"text-align: left;\">However the company did say that even if the pandemic had not hit their results would not have sat in positive territory compared to 2019.<\/p>\n<p style=\"text-align: left;\">Star chairman John O\u2019Neill said that both the new development in Brisbane and the renovation work at is Gold Cost resort was still on track despite the disruption from the pandemic. He said, \u201cMajor projects at Queen\u2019s Wharf Brisbane and The Star Gold Coast are proceeding to plan, with the upgraded and expanded Sovereign at The Star Sydney delivered on time and budget.\u201d<\/p>\n<p style=\"text-align: left;\">Total earnings (EBITDA) dropped 22.8% to $429.6 million compared to 2019 and revenues dropped 23.3% to $1.66 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australian casino operator, Star Entertainment announced its yearly results showing a loss of $94.6 million loss compared to previous year that represents a 148% drop in profits. The company said that the COVID-19 pandemic which forced it to close its businesses in Brisbane, Gold Coast and Sydney in April and since reopening had seen a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":30352,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[123,2,11,8],"tags":[],"class_list":["post-42862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australia","category-gaming","category-headlines","category-latest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Star Casino Announces $95 Million Loss - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/star-casino-announces-95-million-loss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Star Casino Announces $95 Million Loss - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Australian casino operator, Star Entertainment announced its yearly results showing a loss of $94.6 million loss compared to previous year that represents a 148% drop in profits. 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