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Star domestic revenue up 35%, but still below 2019, in first four months of 2021

| By Daniel O'Boyle
Australian land-based operator Star Entertainment Group released an update for the period from 1 January to 3 May 2021, revealing domestic revenue was up-year-on-year but remained below pre-pandemic levels, mostly due to strict restrictions in Sydney early in the period.
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Over the four-month-period, Star’s domestic revenue was up 35% from the same period in 2020, though this period of 2020 included closures of Star’s properties because of the novel coronavirus (Covid-19).

Its domestic gaming revenue, meanwhile, was up 37%.

When compared to the same period in 2019, with properties fully open, revenue was down 12%, while gaming revenue was down 10%.

Slot revenue, however, is 3% above 2019 levels. 

Looking at individual properties, domestic revenue from The Star Gold Coast in Queensland was also above 2019 levels, by 11%, while in Brisbane, domestic revenue was up by 3%, but in Sydney, domestic revenue was down 24%. The operator said the decline in Sydney was related to “more onerous constraints on the operations of the property”, with the property limited to a capacity of 1,800 for all of January until this was eased in mid-February.

Star did not reveal how its overall revenue compared to 2019 or 2020, but noted that international VIP revenue was “negligible” due to border restrictions. In FY2019, the last year before the impact of Covid-19, VIP revenue made up 23.3% of total revenue at $586.0m.

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