Canadian betting giant The Stars Group has posted their second quarter financial results, revealing that the company had large financial gains during the period.
Key financial indicators for the second quarter ending June 30th, 2018 were:
- Revenues up 35% to $411.5 million
- Organic growth of 15%
- Adjusted earnings up 14.8% to $168.3 million
- Operating income down 99% to $1 million related to purchases by the company
- International business revenues of $350.2 million, $217 million of which was poker
- Australian operations kicking in online revenues of $61.3 million, with gross profits of $46.8 million and Adjusted Earnings of $13.5 million
- Overall online casino revenues up 26.3% to just about $102 million
- Sportsbetting revenues up to $19.6 million thanks in large part to the FIFA World Cup
The Stars Group previously traded as Amaya Inc, before purchasing poker giant PokerStars and defaulted group Full Tilt Poker. Since then, they've been on a tear, looking to expand as many ways as possible to become one of the largest betting companies in the world.
No comment from management was available as of press time or in the company's filings.
Those interested in reading the report in full can do at the link below.
Source: The Stars Group