What else happened during the half?
On the plus side of the ledger, and likely helping lift the Star Entertainment share price today, was the company's statutory NPAT of $9 million, up from the massive significant item impaired net loss of $1.264 billion in 1H FY 2023.
Star Entertainment also continued to make progress with remediation over the six months, with the company's remediation plan approved in Queensland.
In New South Wales, the proposed casino duty rate uncertainty was resolved. The company said the new arrangements remove the "considerable uncertainty" introduced in December 2022 and will protect the jobs of thousands of its Sydney employees.
Importantly, the half-year also saw a successful $750 million equity raising alongside $450 million debt refinancing. All of Star's existing debt was cancelled, with management reporting the new debt had been secured "on more favourable terms".
Also aiding the balance sheet was the $56 million secured from the sale of Sheraton Grand Mirage.
Bernd Struben
Published February 29, 11:04 am AEDT
What else happened during the half?On the plus side of the...
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