The Stars Group reports an impressive Q2-2018

Online gambling corporate The Stars Group has posted an impressive second quarter report, highlighting:

* Almost 35 percent rise in y-o-y revenue at $350 million;

* EBITD
* Sales up at $412 million from $305.3 million last year;

* Poker revenue grew 7 percent to $217 million;

* Online casino revenue was up 26.3 percent at $102 million.  TSG plans to rebrand its casino operations as CasinoStars;

* International sports betting revenue more than doubled to $19.6 million;

* Australian assets of TSG reported online betting revenue of $61.3 million, gross profit of $46.8 million and adjusted earnings of $13.5 million, although the division (comprising William Hill Australia and CrownBet trading as BetEasy) reported an actual operating loss of $6.5 million;

* H1-2018 revenue up 29 percent at $804.4 million;

* Management issued a revised H2-2018 guidance, forecasting full year 2018 revenue of between $2billion and $2.15 billion, and adjusted earnings between $755 million and $810 million;

CEO Rafi Ashklenazi reported:

“The continued emergence of our sports betting and casino offerings and the addition of our 2018 acquisitions have transformed our business and greatly enhanced the foundation and diversity of our consolidated revenue base, which will now be nearly equally split among verticals and roughly 75 percent locally regulated or taxed.

“We are now focused on the next stage of our transformation – integration. While this will be a phased and measured process, we expect that it will prepare us to not only be a leader within the world’s largest regulated markets but to also leverage the strength of our combined platform to take advantage of new opportunities and markets.”

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