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."
Comments
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.