The Stars Group increases revenue in Q2
The Canadian company earned US$411.5 million during the three month period ended June 30th.
Canada.- The Stars Group has reported a 34.8 per cent year-on-year increase in revenue for the second quarter of 2018. The company behind PokerStars totalled US$411.5 million in earnings, approximately US$105 million more than the US$305 million registered during the same period in 2017.
The second quarter results contributed to a 29 per cent increase in the company’s H1 financial numbers, which stand at US$804.4 million. It is believed that the revenue increase was driven by a seven per cent increase in poker earnings, a 26.3 per cent hike in gaming revenue and a 122 per cent rise in betting revenue.
Rafi Ashkenazi, The Stars Group’s Chief Executive Officer, said: “The Stars Group’s quarterly results reflect both continued organic growth within our International business and the contributions of our Australian acquisitions.”
”The continued emergence of our sports betting and casino offerings and the addition of our 2018 acquisitions have transformed our business and greatly enhanced the foundation and diversity of our consolidated revenue base, which will now be nearly equally split among verticals and roughly 75 per cent locally regulated or taxed,” he added.
