Revenues for the three month period increased 73.6% year-over-year due to recent acquisitions.
Canada.- The Stars Group has recently reported its financial results for the third quarter ended September 30 and said that the recent acquisitions of Sky Betting & Gaming and BetEasy, as well as organic growth in the International segment, contributed to the numbers.
Adjusted EBITDA for the three month period rose 27.3% year-over-year, driven by the impact of the acquisitions of SBG and BetEasy and by increased gross profit from organic growth within the International segment. Adjusted EBITDA margin for the quarter decreased 26.7% year-over-year, due to the higher contribution from the betting and gaming verticals within each segment.
Poker revenue for the quarter was US$212.8 million, or a decrease of approximately 3.9% year-over-year, while gaming revenue was US$107.6 million, a 28.9% year-over-year increase. Moreover, betting revenue for the quarter was US$21 million, or an increase of 79.9% year-over-year.
“This was a landmark quarter during a transformative year for the company as we begin to deliver on our vision to become the world’s favourite igaming destination,” said The Stars Group CEO Rafi Ashkenazi. “We are pleased with our quarterly results, which reflect both continued organic growth from our International business and contributions from both BetEasy and Sky Betting and Gaming, despite unfavourable sporting results during the period.
“As we continue our transformation and look towards 2019, we are excited to take advantage of the opportunities ahead of us by leveraging our leading positions in attractive markets, strong brands, technology and operating expertise.”