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Star Entertainment profit slumps 44pc

AAP  |  24 Aug 2018Text size  Decrease  Increase  |  
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Star casino gamble

SYDNEY [AAP] The Star Entertainment Group's (ASX: SGR) full-year profit has slumped 44 per cent to $148 million, hurt by low house-win rates in their international VIP business, debt restructuring costs and expenses relating to the opening of a Gold Coast hotel.

Revenue, however, rose 5.5 per cent to $2.47 billion, as the money that international high-rollers brought to play with had risen 36.4 per cent to $4.7 billion, and turnover lifted 54.3 per cent to $61.2 billion.

The casino operator declared a final dividend of 13 cents per share, up from 8.5 cents per share a year ago.

  

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