The Stars Group Announces 41% Rise In Q3

Business News

The Stars Group Inc, has reported a profit for its third quarter that rose from last year.

The company said its bottom line advanced to $119.60 million, or $0.58 per share. This was higher than $84.98 million, or $0.42 per share, in last year’s third quarter.

Analysts had expected the company to earn $0.52 per share, according figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company said revenue for the quarter rose 21.7% to $329.44 million. This was up from $270.68 million last year.

“Our operations and management continued to perform in the third quarter, delivering strong year-over-year growth bolstered by the launch of Stars Rewards,” said Rafi Ashkenazi, Chief Executive Officer. “Not only did we see improvement in our poker business, but our casino continues to grow with a significant active player base and our online sportsbook continues to see meaningful growth in turnover. To build upon these achievements, we plan to focus on reinvesting in our core products and increasing our investment in marketing for the remainder of 2017 and into 2018 while continuing to explore further growth opportunities.”