🤑 The Star Entertainment Group Limited - Company Profile Report | IBISWorld

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Casino business significantly contributes to Australia's export earnings and social This paper consists of analysis of audited financial reports of the group that.


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The Star Entertainment Group Limited will present its financial results for the half the Appendix 4E, Media Release, Directors' Report and Financial Report).


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The Star Entertainment Group Limited will present its financial results for the half the Appendix 4E, Media Release, Directors' Report and Financial Report).


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Crown Resorts Limited Annual Report 1. Financial Calendar casino market, with normalised EBITDA of $ million down %. Sydney Harbour, will be the city's first six-star hotel and a landmark building with.


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Casino business significantly contributes to Australia's export earnings and social This paper consists of analysis of audited financial reports of the group that.


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The Star Entertainment Group Limited will present its financial results for the half the Appendix 4E, Media Release, Directors' Report and Financial Report).


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Company Research Report: The Star Entertainment Group Limited. The Star Casino Sydney; The Star Casino Gold Coast; Treasury Casino Brisbane pie_chart The Star Entertainment Group Limited Financial Profit & Loss Account.


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The Star Entertainment Group Limited will present its financial results for the half the Appendix 4E, Media Release, Directors' Report and Financial Report).


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Crown Resorts Limited Annual Report 1. Financial Calendar casino market, with normalised EBITDA of $ million down %. Sydney Harbour, will be the city's first six-star hotel and a landmark building with.


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The Star Entertainment Group Limited will present its financial results for the half the Appendix 4E, Media Release, Directors' Report and Financial Report).


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Operating expenses were flat on pcp. On transition, for existing leases, the lease liability is measured at the present value of future lease payments, discounted using the incremental rate of borrowing at transition date. Directors were in office for this entire period. The Group's operating segments have been determined based on the internal management reporting structure and the nature of products and services provided by the Group. No discount is applicable to shares issued under the DRP. The above consolidated balance sheet should be read in conjunction with the accompanying notes. Comprises The Star Sydney's casino operations, including hotels, apartment complex, restaurants. Receivables remain well managed. The valuation of derivatives and financial instruments is based on market conditions at the balance sheet date. The impact of the new standard is that leases whereby the Group is lessee are required to be recognised on the balance sheet as a right-of-use ROU asset and lease liability, except for short-term leases and low-value leases. The impact on the income statement for the six months ended 31 December are as follows:. We have offered the Government a commitment for further investment in return for operational certainty, as I outlined at the Annual General Meeting on 24 October Slots revenue up 4. The fair value of the Group's financial assets and financial liabilities approximates their carrying value at the balance sheet date. Refer to note A1 for more details of the financial performance of the Company's operating segments. The price at which shares will be issued under the DRP for the interim dividend is the daily volume weighted average market price of The Star Entertainment Group shares sold in the ordinary course of trading on the Australian Securities Exchange over a period of ten trading days beginning on the fourth trading day after the Record Date. Level 3 the fair value is estimated using inputs for the asset or liability that are not based on observable market data. Normalised results are adjusted using an average win rate of 1. Comprises The Star Gold Coast's casino operations, including hotel, theatre, restaurants and bars. Level 2 the fair value is estimated using inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly as prices or indirectly derived from prices. The entities listed below have share capital consisting solely of ordinary shares, which are held by the Group. The price at which shares are allocated under the DRP is the daily volume weighted average market price of The Star Entertainment Group Limited shares sold in the ordinary course of trading on the ASX over a period of 10 trading days beginning on and including the fourth trading day after the dividend record date. We delivered record Group normalised and domestic earnings, reflecting revenue growth from investments and the cost benefits from the organisational restructure, offsetting declines in our International VIP Rebate business. The Group recognises ROU at the commencement date of the lease i. Adoption of the new standard has had no impact on the accounting for those contracts whereby the Group is the lessor. They reflect the business level at which financial information is provided to the executive decision makers, being the Managing Director and Chief Executive Officer and the Chief Financial Officer, for decision making regarding resource allocation and performance assessment. Profit before income tax PBT is stated after charging the following significant items:. The last date for receipt of election notices for the dividend reinvestment plan is:. The methods comprise:. ROU assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. This was largely driven by lower player rebates and commissions as actual International VIP Rebate win rate on revenue share programs was lower versus the pcp. Broad-based growth in domestic revenue of 5. ROU assets are subject to impairment. Chairman John O'Neill AO said: "The Group continues to execute its growth strategy over the half, with all major projects proceeding to plan. This declaration is in respect of The Star Entertainment Group Limited and the entities it controlled during the financial period. International VIP Rebate business gross revenue decreased Normalised gross revenue increased 2. The Group elected to use the exemption whereby on transition, the ROU asset is recognised at an amount consistent with the lease liability, adjusted for any existing lease related assets or liabilities prepaid lease payments and accrued lease incentives. The activities and drivers of the results for these operations are discussed below. The cost of ROU assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. During the period, the Group purchased , 31 December 1,, of its own shares for use to settle future employee share based payment schemes. Normalised gross revenue grew Results for the International VIP Rebate business are included in the property performance overviews above. Derivative financial instruments reflect the position of currency swaps and interest rate hedges entered into for the USPP debt. The carrying amount of the equity-accounted investments has changed in the six months to 31 December , as follows:. Final dividend paid during the half year in respect of the year ended 30 June a. The lease payments include fixed payments including in-substance fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. Shares issued under the DRP will rank equally in all respects with existing shares. Other than those events disclosed in the Directors' Report or elsewhere in these half year financial statements, there have been no other significant events occurring after the balance sheet date and up to the date of this report, which may materially affect either the Group's operations or results of those operations or the Group's state of affairs. The upgraded and expanded Sovereign in Sydney is expected to open in May , with the new Oasis following in June , enabling all premium domestic customers to receive an upgraded offer. The above consolidated income statement should be read in conjunction with accompanying notes. The variable lease payments that do not depend on an index or a rate are recognised as expense in the period on which the event or condition that triggers the payment occurs.{/INSERTKEYS}{/PARAGRAPH} There are various methods available in estimating the fair value of a financial instrument. The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. There have been no transfers between levels during the period. Directors' Report Auditor's Independence Declaration Financial Report Consolidated income statement Consolidated balance sheet Consolidated statement of cash flows Consolidated statement of changes in equity Notes to the financial statements Key income statement disclosures Key balance sheet disclosures C Commitments, contingencies and subsequent events Group structure Accounting policies and corporate information Directors' Declaration The Directors of The Star Entertainment Group Limited the Company submit their report for the consolidated entity comprising the Company and its controlled entities collectively referred to as the Group in respect of the half year ended 31 December The names and titles of the Company's Directors in office during the half year ended 31 December and until the date of this report are set out below. The value of the instrument fluctuates on a daily basis and the actual amounts realised may differ materially from their value at the balance sheet date. Set out below are the investments of the Group as at 31 December which, in the opinion of the Directors, are material to the Group. {PARAGRAPH}{INSERTKEYS}The Directors have declared an interim dividend of The Record Date for the purpose of entitlement to the interim dividend will be 26 February There will be no discount and no underwriting applicable to the DRP. Unless the Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognised ROU assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. The Group has adopted the following new accounting standard, which became applicable from 1 July The standard sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for most leases under a single on-balance sheet model. The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. The country of incorporation is also their principal place of business, and the proportion of ownership interest is the same as the proportion of voting rights held. The consolidated financial statements incorporate the assets, liabilities and results of the Company's controlled entities in accordance with the accounting policy described in the Financial Report for the year ended 30 June The financial years of all controlled entities are the same as that of the Company. The Group has adopted the new standard using the modified retrospective method of adoption with the date of initial application of 1 July Under this transition method, prior period comparative financial statements are not required to be restated. Segment earnings before interest, tax, depreciation, amortisation and significant items. Growth in domestic revenue of 0. The updated Financial Calendar is attached and can be found on Star Entertainment Group's website at www. No brokerage, commission or other transaction costs will be payable by participants on shares acquired under the DRP. The Group also elected to use the recognition exemptions for lease contracts that, at the commencement date, have a lease term of 12 months or less and do not contain a purchase option short-term leases , and lease contracts for which the underlying asset is of low value low-value leases. Gearing levels remain conservative 2. Since 31 December , the Directors have declared a dividend of This has not been provided for in the financial statements for the half year ended 31 December refer to note A3. All of the Group's derivative financial instruments are valued using the Level 2 valuation techniques, being observable inputs. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the asset or liability in future periods. Normalised gross revenue decreased 2. At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. Lessors will continue to classify all leases using the same classification principle as in AASB and distinguish between two types of leases: operating and finance leases.