For the initial four months of 2021, the Australian land-based operator Star Entertainment Group issued a report for the time frame of January 1 to May 3, 2021, indicating that local earnings increased compared to the previous year, but remained below pre-pandemic levels, primarily due to strict limitations in Sydney early in the period.
Star’s domestic revenue rose by 35% in the first four months of 2021, but remained below 2019 levels.
Over the four-month period, Star’s domestic revenue was 35% higher than the same period in 2020, even though that period included the closure of Star’s properties due to the novel coronavirus (Covid-19).
Meanwhile, its domestic gambling revenue also increased by 37%.
Compared to the same period in 2019, when properties were all open, revenue was 12% lower while gambling revenue was 10% lower.
However, slot machine revenue was 3% higher than 2019 levels.
On a property-by-property basis, domestic revenue at Star Gold Coast in Queensland was also higher than 2019 levels, up 11%, while domestic revenue in Brisbane grew by 3%, but in Sydney, domestic revenue fell by 24%. The operator stated that the decline in Sydney was related to “tighter restrictions on property operations,” which saw the property capped at a capacity of 1,800 people for the entire month of January, only easing in mid-February.
Interstellar Entertainment refrained from disclosing their financial performance in comparison to 2019 or 2020. However, they did mention that their revenue generated from international dignitaries was negligible due to travel limitations. In 2019, prior to the pandemic, revenue from high-profile individuals constituted 23.3% of their total earnings, which amounted to $586 million.
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