Stars Group H1 poker revenue falls as Sky Bet drives sportsbook growth

By Tim Poole

Stars Group saw its total consolidated revenue grow 51% year-on-year for H1 2019 to $1.22bn.

However, $432m of Stars Group’s revenue came from Sky Betting & Gaming, which was acquired in July 2018; this means total revenue would have shrunk were it not for the purchase of the UK operator.

Consequently, online sports betting was Stars Group’s largest product vertical, increasing from 20% of the company's total revenue to 36%; by contrast, online casino dropped from 31% of total revenue to 25%, while online poker shrunk significantly from 53% to 30%.

International poker revenue fell 12% to $405.6m, due to adverse foreign exchange fluctuations and "continued disruptions and regulatory headwinds in certain markets."

Operating income for Stars Group rose 35% to $155.5m, while net earnings grew from an $80.5m loss to $32.3m; adjusted EBITDA increased 26% to $432m.

Nevertheless, adjusted net earnings fell 10% to $243m and the operator has updated its full-year guidance by marginally reducing revenue, adjusted EBITDA and adjusted diluted net earnings per share expectations.

Rafi Ashkenazi, Stars Group CEO, said: "The second quarter underpinned the success of last year's acquisitions, particularly with the record performance of Sky Betting & Gaming and our increasing product and geographic diversification.

“This year has been and remains a year of integration, execution and debt reduction."



More News

BetCity.nl has become the first-ever betting partner of hockey’s world governing body, the International Hockey Federation (FIH). The Dutch betting company has signed a 3-year partnership with the...






One of the US’ leading sportsbooks and iGaming operators, DraftKings, has just launched its products in Ontario, Canada’s first regulated market. Ontarians will now have access to the operator’s sportsbook app and...