Q1 report manifests overall growth
Stars Group has reported widespread growth across numerous significant financials within the first quarter. Increases occurred across all its poker, casino and sportsbook verticals.
Revenue hit $392.9m (€329.3m) within the three months until March 31, up 23.8% from $317.3m in the corresponding period last year.
Rafi Ashkenazi, chief executive of Stars Group, said: “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 improvement 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.
Real-money poker revenue reached 12.4% year-on-year to $245.9m, with casino and sportsbook combined revenue jumping 55% to $134.5m.
Simultaneously, net earnings soared at 13.1%, from $65.8 to $74.4m, while adjusted net earnings also increased 22.8% from $113.4m to $139.2m.
Diluted net earnings per common share increased by 9.1% to $0.36, while adjusted net earnings per common share also increased 17.9% to $0.66.
“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," Ashkenazi continued.
“These new additions will accelerate not only the organic growth we are seeing in our existing business, but also our progress towards realising our vision of becoming the world’s favourite igaming destination.”