Solid Q1-2018 result from the Stars Group

Toronto listed The Stars Group has published its Q1-2018 report, highlighting:

* Group revenue up 23 percent year-on-year at $393 million;

* PokerStars subsidiary reported revenue up 12 percent at $245.9 million;

* Online casino and sports books revenue up 55 percent at $134.5 million;

* Corporate net earnings of up $9 million y-o-y at $74 million.

Group CEO Rafi Ashkenazi said in his report:

“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 improvements 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 realizing our vision of becoming the world’s favorite iGaming destination.”

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