Thursday, August 18, 2022

The Stars Group sees 24.6 percent rise in total revenues in 2019


Canada-based The Stars Group has reported over US$2 billion in total revenues over the course of the year 2019, which was up 24.6 percent year-on-year. This higher revenue was driven by the acquisitions of Sky Betting & Gaming and BetEasy.

Adjusted EBITDA was US$921 million, a 17.9 percent advance over the previous year.

Growth was slower in Q4 than in the full year results.

The company’s statement noted that “revenue for the quarter increased primarily as a result of revenue growth within the United Kingdom and Australia segments, which were largely driven by strong underlying trends in customer activity and revenues across those segments, as well as a year-over-year increase in Betting Net Win Margin.”

The Stars Group CEO Rafi Ashkenazi commented, “In 2019, we continued to execute on our strategy to deliver long-term sustainable growth and become the world's favorite iGaming destination. We not only began to see the full-year benefits of our transformative 2018 acquisitions, but executed on delivering a landmark media partnership in the United States, with the launch of FOX Bet, strengthening our position in this emerging market.”

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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