The Stars Group Inc today reported its financial results for the second quarter ended June 30, 2019.

The company reported $637.618 million in sales this quarter. This is a 54.95% increase over sales of $411.512 million the same period last year.

The Stars Group cut fiscal year 2019 guidance sales from $2.64 billion-$2.765 billion to $2.5 billion-$2.575 billion.

“The second quarter underpinned the success of last year’s acquisitions, particularly with the record performance of Sky Betting & Gaming and our increasing product and geographic diversification, as we continue to transform and position the business to execute on our strategy for strong, sustainable future growth,” said Rafi Ashkenazi, The Stars Group’s Chief Executive Officer.  

“2019 has been and remains a year of integration, execution and debt reduction,” said Mr. Ashkenazi. “We are committed to those key strategic priorities for the rest of the year while we also build our foundation and momentum to become a market leader in the U.S. We are confident that the actions we have taken over the last year, and are pursuing now, including to reassess our fixed cost base, put us in a strong position to deliver our mid-term growth targets from the end of 2019,” concluded Mr. Ashkenazi.