Stars Group reveals widespread financial growth in Q1
The Stars Group has reported year-on-year growth across various key financials in the first quarter, with increases across all its poker, casino and sportsbook verticals.
Revenue amounted to $392.9m (€329.3m) in the three months to March 31, up 23.8% from $317.3m in the corresponding period last year.
Real-money poker revenue was up 12.4% year-on-year to $245.9m, with casino and sportsbook combined revenue jumping 55% to $134.5m.
Meanwhile, net earnings climbed by 13.1% from $65.8 to $74.4m, while adjusted net earnings also increased 22.8% from $113.4m to $139.2m.
Diluted net earnings per common share rose by 9.1% to $0.36, while adjusted net earnings per common share also increased 17.9% to $0.66.
Rafi Ashkenazi, chief executive of Stars Group, said: “The Stars Group’s strong first quarter results continued our organic growth trajectory.
“We are pleased with the performance of each of our verticals, poker, casino and sportsbook, which are benefiting not only from the continued success of Stars Rewards, but also from our strategy of focusing on the customer and continued improvement to our product offerings.
“Moving forward, the exceptional foundation of our existing business will be complemented by our acquisitions of CrownBet and William Hill Australia, and expected completion of the Sky Betting & Gaming acquisition.
“These acquisitions will help diversify our revenue base, increase our exposure to regulated markets, and transform our combined sportsbook into a second customer acquisition channel.
“These new additions will accelerate not only the organic growth we are seeing in our existing business, but also our progress towards realising our vision of becoming the world’s favourite igaming destination.”
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