altenar2.gif
altenar2.gif
altenar2.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2019 AffiliateCon
NEWS 12 August 2019

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."

RELATED TAGS: Online | Sports Betting | Financial | Poker | Casino
DISCUSS THIS ARTICLE
n2live.jpg
GI FRIDAY: WEEKLY NEWSLETTER
THE GI HUDDLE PODCAST
NEW! #006 - LISTEN NOW
Gaming Industry Conferences (22:37)
#005 - LISTEN NOW
The role of gambling media (27:11)
#004 - LISTEN NOW
What is the role of a Gambling regulator? (29:09)
#003
The Future of Gambling Sponsorship in Sport (30:50)
ANALYSIS
MUST READ
IN-DEPTH 11 October 2019
Landing on a monopoly
READ MORE
PREMIUM CONNECTIONS