(Reuters) – Australia’s Star Entertainment Group on Thursday posted a drop in first-half profit, as the cash-strapped casino operator was hurt by weaker consumer discretionary spending and higher competition.
The company posted A$25 million ($16.24 million) in normalised net profit after tax attributable for the six months ended Dec. 31, compared with A$43.6 million last year.
That beat a profit of A$15.3 million as per LSEG IBES data.
($1 = 1.5394 Australian dollars)
(Reporting by Poonam Behura and Megha Rani in Bengaluru; Editing by Maju Samuel)
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