-Australia’s Star Entertainment reported a narrower annual loss on Friday, helped by the absence of a massive impairment charge that weighed on last year’s earnings, though remediation costs and subdued patron spending continued to pressure the bottom line.
The casino operator reported a net loss after tax on a statutory basis of A$471.5 million ($306.38 million) for the year ended June 30, compared to A$1.69 billion logged last year.
That missed the consensus estimate of loss of A$244.5 million, according to consensus provider Visible Alpha.
($1 = 1.5389 Australian dollars)
(Reporting by Rajasik Mukherjee and Nikita Maria Jino in Bengaluru; Editing by Mohammed Safi Shamsi)
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‘ Some details of this article were extracted from the following source finance.yahoo.com ’
