The Stars Group Reports First Quarter 2018 Results

Business News

The Stars Group reported a profit for its first quarter that advanced from last year.

The company’s profit totaled $74.36 million, or $0.36 per share. This compares with $65.75 million, or $0.33 per share, in last year’s first quarter.

Excluding items, The Stars Group Inc. reported adjusted earnings of $139.21 million or $0.66 per share for the period.

The company’s revenue for the quarter rose 23.8% to $392.89 million from $317.32 million last year.

The Stars Group’s strong first quarter results continued our organic growth trajectory,” stated Rafi Ashkenazi, The Stars Group’s Chief Executive Officer. “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 improvements 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. 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. These new additions will accelerate not only the organic growth we are seeing in our existing business, but also our progress towards realizing our vision of becoming the world’s favorite iGaming destination.”