Canadian betting giant The Stars Group (formerly Amaya) has announced their first quarter financial results, revealing that the company saw growth of nearly 25% during the period.
Key financial indicators for the quarter ending March 31st, 2018 were:
- Revenues of $392.9 million, up 23.8% from the year prior
- Real money poker revenues of $245.9 million, up 12.4% from the period last year
- Casino and sportsbook combined revenues were up 55% to $134.5 million
- Net earnings up 13.1% to $74.4 million
- Adjusted net earnings up 22.8% to $139.2 million
- Diluted net earnings up 9.1% to $0.36
- Adjusted net earnings up 17.9% to $0.66
Commenting on the results company CEO Rafi Ashkenazi said, "The Stars Group's strong first quarter results continued our organic growth trajectory.
"We are pleased with the performance of each of our verticals, poker, casino and sportsbook, which are benefiting not only from the continued success of Stars Rewards, but also from our strategy of focusing on the customer and continued improvement to our product offerings.
"Moving forward, the exceptional foundation of our existing business will be complemented by our acquisitions of CrownBet and William Hill Australia, and expected completion of the Sky Betting & Gaming acquisition.
"These acquisitions will help diversify our revenue base, increase our exposure to regulated markets, and transform our combined sportsbook into a second customer acquisition channel.
"These new additions will accelerate not only the organic growth we are seeing in our existing business, but also our progress towards realising our vision of becoming the world's favourite igaming destination."