Stars Group Sees Financials Grow in 2019

This story was published more than 1 year ago.

This week The Stars Group posted their 2019 full-year financials, noting that revenues were to $2.53 billion for the period.

Key financial indicators for the year ending December 31st, 2019 were:

  • Revenues up to $2.53 billion
  • UK revenues up 140.2% to $946.7 million
  • Australian revenues up 39.3% to $274.4 million
  • Other international revenues down 11.8%
  • Cost of revenue, excluding depreciation and amortization up to $693.1 million
  • Gross profit of $1.84 billion
  • Administrative costs up to $1.16 billion
  • Operating income up to $264.2 million

Commenting on the results TSG CEO Rafi Ashkenazi said, "In 2019, we continued to execute on our strategy to deliver long-term sustainable growth and become the world's favourite iGaming destination. We not only began to see the full-year benefits of our transformative 2018 acquisitions, but executed on delivering a landmark media partnership in the US, with the launch of FOX Bet, strengthening our position in this emerging market.

"In-line with our expectations, we exited 2019 with a strong fourth quarter with Constant Currency Revenue growth of 7% year-over-year driven primarily by the continued impressive underlying performance of our primary sports betting brands.

"With sports betting now our largest product vertical and 81% of our revenues coming from locally regulated or taxed markets, we are well positioned for diversified growth in 2020 and beyond."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
1 reply • Last post

Comments

bgsharpe
Forum AngelForum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 7427
Thanks given: 4055
Thanks received: 1121
29 February 2020 - 1:16pm
#1

Yeah the numbers make sense when e know for a long time now Stars Group is not mainly about poker...apparently sportsbeting is the most important sector of their business these days.