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NEWS 13 August 2018

The Stars Group reports 34.8% revenue spike for Q2

By Tim Poole

The Stars Group has reported a 34.8% year-on-year increase in revenue for Q2.

The operator earned $411.5m between April and June, compared to $305.3m for the same period last year. This took The Stars Group’s revenue for H1 to $804.4m, a 29% increase.

The company’s revenue boost was helped by an increase in poker earnings of 7%, a 26.3% rise in gaming revenue and a 122% revenue increase in betting.

Earlier this year, The Stars Group purchased Sky Betting and Gaming for $4.7bn, while it also acquired a 62% equity interest in CrownBet for £117.7m.

Rafi Ashkenazi, The Stars Group's Chief Executive Officer, said: "The Stars Group's quarterly results reflect both continued organic growth within our International business and the contributions of our Australian acquisitions.

"The continued emergence of our sports betting and casino offerings and the addition of our 2018 acquisitions have transformed our business and greatly enhanced the foundation and diversity of our consolidated revenue base, which will now be nearly equally split among verticals and roughly 75% locally regulated or taxed.”

 

RELATED TAGS: Online | Industry | Sports Betting | Financial | Casino
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