August 23, 2018 / 10:25 PM / 3 months ago

Australia's Star Entertainment reports 44 pct drop in annual profit

Aug 24 (Reuters) - Australian casino operator Star Entertainment Group said on Friday its annual net profit dropped 44 percent, missing analysts’ forecasts, hurt by low house win rates.

Its reported annual net profit of A$148 million for the year ended June 30, compared to A$264.4 million the previous year, was well below the consensus estimate of A$208.2 million compiled by Thomson Reuters I/B/E/S.

The company declared a final dividend of 13 cents per share, up from 8.5 cents per share a year ago. (Reporting by Nikhil Kurian Nainan in Bengaluru Editing by James Dalgleish)

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