april 19 reuters  australias star entertainment group ltd sgrax announced job cuts and reduced its annual operating earnings forecast on wednesday as the casino operator experiences significant and rapid deterioration in operating conditions the company will layoff about 500 fulltime equivalent employees across the group cancel shortterm and other incentives for fiscal 2023 among others stars sydney and gold coast casinos in particular are facing adverse operating conditions with earnings taking a hit owing to compounding impact of regulatory operating restrictions and low consumer spending behaviour star said to put the operating environment into perspective the groups current earnings performance is at unprecedented low levels excluding the covid19 period the company said if current conditions persist star said it expects underlying earnings before interest taxes depreciation and amortisation ebitda for fiscal 2023 to be between a280 million 18844 million and a310 million compared with the prior expectation of between a330 million and a360 million reporting by sameer manekar in bengaluru editing by subhranshu sahu