Online gaming firm The Stars Group has released their third quarter 2017 financial results, noting that revenues surged 21.7% during the three months ending September 30th.
Key financial indicators for the third quarter ending September 30th, 2017 were:
- Revenues of $329.4 million, up 21.7% from last year
- EBITDA up 26.5% to $155.8 million
- Net cash inflows from operations up 67.1% to $144.9 million
- Net earnings up 505.9% to $75.9 million
- Adjusted net earnings up 40.7% to $119.6 million
Year to date revenues are at 952.1 million, up 12.7% from last year.
Speaking about the company's performance The Stars Group CEO Rafi Ashkenazi said, "Our operations and management continued to perform in the third quarter, delivering strong year-over-year growth bolstered by the launch of Stars Rewards. Not only did we see improvement in our poker business, but our casino continues to grow with a significant active player base and our online sportsbook continues to see meaningful growth in turnover."
"To build upon these achievements, we plan to focus on reinvesting in our core products and increasing our investment in marketing for the remainder of 2017 and into 2018 while continuing to explore further growth opportunities."