Star casino on a losing streak, but SkyCity is in a better place, analysts say

Forsyth Barr's Andy Bowley says there are some significant differences between Star's situation and SkyCity's. (Image: NZME)

Dileepa Fonseka

Tue, 14 Jan 2025

Australasian casinos appear to be doing their best to disprove the old gambling adage that the house always wins. One major Australian casino chain, Star, is even running low on the one thing casinos are famous for: cash. Star, which operates casinos in Brisbane, Sydney and the Gold Coast, declared to the Australian Securities Exchange (ASX) last week that its cash balances had nearly halved in the space of three months.Available cash dropped 47%, from a balance of A$149 million (NZ$165m) in September to A$79m in December, prompting s...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket down 0.2%

The S&P/NZX 50 closed at 13,454.78, down 31.54 points or 0.23%.

Graham Skellern 6:10pm

Policy

Economic boost, compliance relief from RMA reform

RMA Minister Chris Bishop touts the size of prize as new planning system revealed.

Thomas Manch 3:45pm

Economic boost, compliance relief from RMA reform

Primary Sector

Michelle Pye elected to the Fonterra Co-operative board

The co-op’s annual meeting is on Thursday in Christchurch.

Riley Kennedy 3:40pm

Michelle Pye elected to the Fonterra Co-operative board

Sponsored

Embracing AI?: How ANZ businesses are unlocking value through modernisation

Modernisation clears the path for AI to lift productivity.

Cognizant

Sponsored

Journey to AI success starts with modern foundations

Strong tech, data and security foundations make AI succeed.

Cognizant

More Retail

Retail

Foodstuffs executive Lindsay Rowles appointed Mitre 10 CEO

Mitre 10 New Zealand has appointed one of Foodstuffs’ most senior executives as its new chief executive as the retailer embarks on its next era.Lindsay Rowles, former Foodstuffs North Island general manager, will lead the multi-category retailer from March 9, 2026.He takes over t...

Staff reporters 2:10pm