The Star Entertainment Group Reports NPAT Up 36.01% to $264.4m for the Year to 30 June 2017

The Star Entertainment Group Limited (ASX: SGR) (Group) today announced record statutory earnings and 23% increase in total dividends:

  • Significant investment in core business delivering against long-term strategy
  • Strong 2H revenue growth in Sydney and the Gold Coast as new investments commissioned
  • Effective international diversification into global VIP Rebate and Premium Mass
  • Continued cost discipline and efficiency improvements.


Statutory NPAT of $264.4 million up 36.0% on pcp , supported by 2H FY2017 domestic revenue growth and high win rate in International VIP Rebate

  • Normalised3 NPAT of $214.5 million down 11.1% on pcp4 impacted by lower turnover in the International VIP Rebate business as a result of disruption to the North Asia market
  • FY2017 represented further progress of the Group’s strategy of investing in the core business
    • 1H FY2017 – major capital works progressed, loyalty program relaunched, investment in new capability
    • 2H FY2017 – solid domestic revenue growth as customers responded to completed investments in Sydney up 6.0% on pcp and the Gold Coast up 9.9% on pcp
  • International VIP Rebate diversification effective as business front money up 3.4% on pcp. Statutory International VIP Rebate business revenue up 7.3% on pcp supported by a high win rate of 1.59%5 . Continued effective credit processes and collections
  • Record statutory results support increased final fully franked dividend of 8.5 cents per share up 13.3% on pcp. Total fully franked dividend of 16.0 cents per share up 23.1% on pcp
  • Strong balance sheet maintained (1.3 times Net Debt6 / Statutory FY2017 EBITDA) supporting growth plans
  • Strategic initiatives and capital works to deliver future earnings progressing on schedule.

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