FINWIRES · TerminalLIVE
FINWIRES

Star Entertainment Group Narrows Fiscal Q4 Loss Before Interest, Taxes, Depreciation, Amortization

By

Star Entertainment Group (ASX:SGR) reported a fiscal fourth-quarter loss before interest, taxes, depreciation, and amortization of AU$8 million, narrowing from a loss of AU$27 million in the year-ago period, according to an Australian bourse filing on July 24 after market hours.

The company's revenue for the June quarter was AU$265 million, down from AU$270 million a year earlier, per the filing.

The results reflect stabilized trading at Star Sydney casino and hotel even though trading levels remain at historical lows, stronger volumes on the Gold Coast, and a lower operator fee for the Star Brisbane property, the company said.

Additionally, Star Entertainment's ability to continue as a going concern remains subject to the outcome of "a limited number of material uncertainties," it said after detailing relevant matters in fiscal first-half financial statements released in February.

The company reported AU$267 million of cash as of June 30. It ended March with available cash of AU$90 million, an earlier fling showed.

Related Articles

Asia

Market Chatter: India's State Oil Firms Buy Additional Oil from Spot Market Amid Potential Middle East Supply Delays

Indian Oil (NSE:IOC, BOM:530965), Bharat Petroleum (NSE:BPCL, BOM:500547) and Hindustan Petroleum (NSE:HINDPETRO, BOM:500104) have made crude oil purchases from the spot market, Bloomberg reported Friday, citing people familiar with the matter.The move comes as a buffer for potential delays in shipments from Saudi Arabia and Iraq, according to the report.The Indian state-owned oil companies have been asked to tap into their stored supplies if needed to ensure undisrupted refinery operations in August and avoid fuel, especially cooking gas, shortages, the people reportedly told Bloomberg, asking to remain unnamed.Oil Minister Hardeep Singh Puri, on Thursday, had discussions on backup strategies with state-run refiners, Bloomberg said.Indian Oil, Bharat Petroleum and Hindustan Petroleum did not immediately respond to' requests for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

BOM:500104BOM:500547BOM:530965NSE:BPCLNSE:HINDPETRONSE:IOC
Asia

Japan Hotel REIT's Revenue Nearly Flat in June

Japan Hotel REIT Investment (TYO:8985) said its 29 hotels generated total revenue of 6.05 billion yen in June, down 0.6% from a year earlier.Hotel occupancy reached 81.2% in June, up 0.1% year over year, according to a Tokyo bourse filing on Friday.The average daily rate gained 1.6% to 18,509 yen, while revenue per available room rose 1.7% to 15,023 yen.

TYO:8985
Asia

Daiwa Office Investment Requests Rating Withdrawal

Daiwa Office Investment Corporation's (TYO:8976) has requested Rating and Investment Information Inc. withdraw its assigned AA- issuer rating following a cost-benefit review, according to a Tokyo bourse filing Friday.The AA long-term issuer rating by Japan Credit Rating Agency with a stable outlook is expected to remain effective.

TYO:8976