The group had $130 million in available cash as of December 31, down from $234 million six months ago, according to its interim results lodged on Friday night.
Star posted a half-year operating earnings loss of $7.6 million and suffered a statutory loss of $109.7 million, including $34 million of one-off significant items.
It suffered a $53 million net cash outflow from its operations, spent $22 million on capital expenditures and had $49 million in finance costs, among other items.
Group revenue was down 10 per cent to $584.9 million, primarily due to an 18 per cent drop in gaming revenue, which Star said reflected the continued impact of reforms regulators forced it to implement following its 2021 money-laundering scandal.
Domestic gaming revenue was down 10.6 per cent to $257 million at The Star Sydney, where it has implemented mandatory carded play and a daily cash limit of $5,000.
The softer trading conditions at Star Sydney have continued into the second half, with January revenue down six per cent from a year ago.
Group chief executive Bruce Mathieson Jr said Star was streamlining operations to strengthen its financial position, including managing essential support functions at its individual casinos in Sydney, the Gold Coast and Brisbane.
"We continue to pursue appropriate cost-out initiatives and are exploring and implementing initiatives to attract customers to our properties," Mr Mathieson said.
On Friday, Star's senior lenders - Washington H Soul Pattinson, Macquarie, Perpetual and Deutsche Bank - agreed once again to waive financial covenants on its debt until March 31, paving the way for a potential refinancing.
Star on Thursday had tentatively agreed terms with WhiteHawk Capital Partners, a Los Angeles-based credit investment manager specialising in asset-based lending to middle-market companies, for a refinancing.Â
Star had $341 million in bank loans as of December 31, according to its financial statements lodged with the stock exchange.
Star also warned that there remains material uncertainty about its ability to continue as a going concern, with several near-term matters critical to its liquidity and financial outlook.
The biggest unknown in the short term is a looming Federal Court fine in a money-laundering case brought by Australia's financial crime watchdog.
AUSTRAC has requested a penalty of $400 million for hosting known criminal syndicates, while Star says it can only pay around $100 million without being pushed into administration.
It's not known when the Federal Court will rule on that matter.
Shares in Star, which declined an interview request from AAP, were flat at 12.5 cents after midday, after dipping to 12 cents in morning trade.
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