Landmark quarter for The Stars Group
News on 7 Nov 2018
News on 7 Nov 2018
The Stars Group has described third quarter results as a landmark within a transformative year.
Key financial highlights for the three-month period ending September 30, 2018 were:
Total Revenues up 73,6 percent to reach $571,963,000 (Q3/2017: $329,443,000), primarily driven by Sky Betting & Gaming and BetEasy.
Gross Profit was $442,757,000 an increase of 65.8 percent over Q3/2017.
Operating Income was $70,901,000, down 40.3 percent (Q3/2017: $118,724,000).
Net Earnings saw a loss of $9,730,000 (Q3/2017: $75,874,000.
Adjusted EBITDA was up 27,3 percent to $198,252,000) and the adjusted EBITDA margin was 34.7 percent (Q3/2017: 47.3 percent), down 26.7 percent which was attributed to the higher contribution from betting and gaming verticals in each segment.
Vertical splits comprise:
Poker revenues declined 3.9 percent y-o-y contributing $212.8 million, impacted by fluctuations in foreign exchange rates and notably the operators exit from the Australian market.
Gaming revenue was $107.6 million, up 28.9 percent y-o-y.
Betting revenue was $21 million, up 79.9 percent y-o-y.
Quarterly real money active uniques (QAUs) were 2 million, representing a 3 percent decline y-o-y, again impacted by the withdrawal from Australia.
Quarterly net yield (QNY) was $ 167, up 11.3 percent y-o-y.
Net deposits were $335 million, an increase of 4.1 percent y-o-y.
Stakes were $233.7 million, an increase of 42.6 percent, and Betting Net Win was 0.9 percent, up 1.9 percentage points y-o-y.
“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 favorite iGaming destination,” Rafi Ashkenazi, The Stars Group’s Chief Executive Officer, commented.
“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 & Gaming, despite unfavorable 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.”
