Sky Bet and BetEasy push Stars Group Q1 revenue to $580m

The Stars Group announced revenue of $580m for the year’s first quarter, a 47% increase year-on-year, as adjusted EBITDA increased 11.6% to $195m

stars group logo

In its financial report, the operator highlighted the positive impact of the UK-facing Sky Bet and Australia-focussed BetEasy acquisitions.

In the UK market, Stars Group made $179m in revenue, 31% of overall group revenue.

Sports betting brought in $74m in the region, while gaming took $90m.

Stars Group finalised its $4.7bn purchase of Sky Betting & Gaming in July.

Australian revenue totalled at $62m, but saw a significant leap year-on-year, up 458%.

BetEasy was re-launched last year when Stars Group CrownBet merged with William Hill Australia.

The Stars Group’s international sector did not experience similarly positive results. Total revenue declined 10% to $340m.

Sports betting was the only vertical to avoid a drop in this market, rising 20% to $20m.

Poker revenue declined 13% to 214m, gaming fell 7.3% to $98m while other areas provided only $7.5m, down 39%.

Rafi Ashkenazi, The Stars Group’s Chief Executive Officer said: “Our United Kingdom segment continues to exceed our expectations operationally with record levels of new depositing customers, and an acceleration of growth in QAUs, Stakes and gaming revenue, although this performance was masked in the reported results by a record low Betting Net Win Margin of 5%.

“As we look at the remainder of 2019, we see opportunities for improved revenue growth, with a deep pipeline of new products, content and offers, leveraging our talent and skills across segments.”

On 8 May, Stars Group announced its deal with Fox Sports to provide a national media and sports wagering partnership with the US broadcaster.

In addition to the agreement, running up to 25 years, Fox Corporation acquired 14 million newly issued shares in The Stars Group, representing 4.99%.

Premium+ Connections
Premium

Imagine Live

 
Premium

Lynon

 
Premium

RISK

 
 
Premium

Sport Generate

 
Premium

Revsharks

 
Premium

GammaStack

 
Premium

1xBet Partners

 
Premium

Digitain

 
Premium

Galaxsys

 
Premium

PIN-UP Partners

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...