Australia’s Star Entertainment Group has reported a statutory loss of AU$1.69 billion (US$1.16 billion) for the 12 months to 30 June 2024, with the loss primarily due to a non-cash impairment charge of AU$1.44 billion (US$987 million) on challenging trading conditions and the impact of new regulatory requirements.

Without the impairment and other significant items, the group would have reported a net profit after tax of AU$12 million (US$8.2 million), down from AU$41 million (US$28.1 million) a year earlier.

Star’s FY24 financial results, originally due for release a month ago, had been delayed after the company was again found unsuitable to hold a casino license for The Star Sydney following a second inquiry into its operations.

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