Online betting firm The Stars Group has posted their third quarter 2018 fiscal report, revealing that their revenues were up during the period.
Key financial indicators for the period ending September 30th, 2018 were:
- Revenues of $572 million, up 73.6% from last year
- Adjusted earnings up 27.3% to $198.2 million
- Operating income down 40.3% to $70.9 million
- Net earnings down 87.2% to $9.7 million
- Poker revenues of $212.8 million, down 3.9%
- Gaming revenues up 29% to $107.6 million
- Sports betting revenues of $21 million, up 80% from the year prior
- Real money active players were down 3.1% from last year to 2 million
The company purchased UK-based Sky Betting and Gaming this year, which contributed to the bottom line of the group. The Stars Group oversees poker giants PokerStars and Full Tilt Poker, and was formerly the Amaya Group. The array of purchases the company has made in recent years, making it one of the largest online betting groups in the world.
No comment from the group's CEO were available as of press time.
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Comments
Yeah, the numbers are not surprising I think for one of the largest betting groups out there.
I think the Stars Group have dealt quite wisely enlarging their business in a gambling sectors outside poker for what they were known for in the past and now they started benefit hugely because of that.