Latest Casino Operations News

The Star Entertainment returned to positive quarterly EBITDA in Q1 FY27, with Sydney and Gold Coast revenue recording year-on-year growth for the first time since quarterly reporting began. The improvement comes alongside negative reported operating cash flow, continuing casino licence restrictions and unresolved going-concern uncertainties.

SkyCity has signed a conditional agreement to sell The Grand Hotel and its business assets for $221 million, converting a previously proposed transaction into a binding deal. The proceeds are intended to repay debt, although completion still depends on Overseas Investment Office consent and other conditions.

SkyCity Entertainment Group has secured the right to apply for two New Zealand online casino licences, committing NZ$30 million in licence fees before GST. The company still needs to complete the application process ahead of next year’s planned market opening.

SkyCity has appointed UBS and Chapman Tripp to run a structured process exploring potential transactions and other ways to lift shareholder value, while continuing talks with two parties whose earlier approaches were rejected. The casino operator also expects major asset sale proceeds and says cost savings are tracking ahead of plan.

The NSW Independent Casino Commission will keep The Star Sydney’s casino licence suspended, with manager Nick Weeks extended until 30 June 2027. The regulator cited unresolved governance, leadership and culture issues, recent allegations and pending AUSTRAC civil proceedings.

Iris Cairns Property has lodged a formal, unconditional cash offer for the Reef Casino Trust units it does not already own, valuing the maximum transaction at about A$33.1 million. The bid gives remaining unitholders a 29.54% premium to the latest pre-offer closing price, but points towards tighter liquidity, possible delisting and lower future distributions.

The Star Entertainment Group has completed the first stage of its exit from the Destination Brisbane Consortium, locking in a fixed $18 million annual operator fee and shedding a major debt guarantee.

BetMakers Technology Group Ltd reported an 11.4% rise in half-year revenue to $46.1 million alongside a dramatic 80% reduction in losses, setting the stage for accelerated global growth and a strategic US market push.

BetMakers Technology Group has signed a definitive agreement to acquire Las Vegas Dissemination Company, gaining direct access to major Nevada casino operators and projecting $4.5 million revenue in the first year.

Reef Casino Trust’s takeover bid by Iris Cairns Property faces a regulatory hurdle as Queensland’s Office of Liquor and Gaming Regulation delays suitability investigations, pushing the offer period beyond March 2026.

Reef Casino Trust (ASX, RCT) has received a recommended off-market takeover offer from Iris Cairns Property Pty Ltd at $3.87 per unit, representing a significant premium over recent trading prices. The independent expert affirms the offer as fair and reasonable, with major unitholders supporting the bid subject to regulatory approvals.

The Queensland Government has postponed the suspension of The Star Gold Coast's casino licence until September 2026, extending regulatory oversight as the company continues remediation efforts.