The online gaming giant revealed a 54.6% revenue increase in what it branded as a “landmark” 2018 financial performance.
US.- The Stars Group revealed its “landmark” financial performance and showed a 54.6% revenue increase for the full year to just over US$2 billion with adjusted earnings reaching US$781 million. The improvement was boosted by an 81.2% jump during the fourth quarter, to US$652.8 million, as earnings reached US$239.4 million.
Despite posting a net loss of US$38.2 million due to the acquisition of SBG, TSG’s australian add-ons and its US market expansion, TSG stock value still went up 14% just after they release the results.
Rafi Ashkenazi, The Stars Group’s Chief Executive Officer said: “We completed the acquisitions of Sky Betting & Gaming in the U.K. and BetEasy in Australia, extended our licensed footprint to 21 jurisdictions around the world and began laying the foundations to grow our presence in the U.S.”
“Our International business saw strong organic growth in the year despite restrictions in certain markets and lapping the initial roll-out of our Stars Rewards program. Our United Kingdom and Australia segments both performed in-line with our expectations during the fourth quarter, and we believe they are currently well-positioned to continue gaining market share in 2019,” added Mr. Ashkenazi.