Stars Group upgrades its performance guidance

Pokerstars owner Star Group has issued an update on its guidance for this year’s performance, predicting group revenue in the range $1.28-1.31 billion, an increase on its earlier assessment that revenues would reach $1.20-1.26 billion.

Group CFO Brian Kyle expects EBITDA in the $590-610 million range, up from the previously anticipated $560-580 million, with adjusted net-earnings of $445-469 million, compared to the prior range of $413-437 million.

Kyle commented in a stock exchange advisory:

“As I am now fully familiar with our forecasting and given our solid trends across all business lines, which reinforce our conviction and commitment to our strategy, it is now appropriate to update our financial guidance. In addition, given our progress to date, we are also able to make another meaningful prepayment of our debt”

The comment on debt repayment refers to a $75 million second lien debt repayment.

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