PokerStars records 12% revenue growth amidst Stars Group Q1 results

PokerStars records 12% revenue growth amidst Stars Group Q1 results

Friday, May 11, 2018 Posted by Michael Lawson
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Casino and sportsbook revenues also experienced growth.

Pokerstars, the flagship division of Stars Group, recorded 12% revenue growth amongst the global gaming firm’s Q1 2018 results.

The figure rose to $245.9 million, supported by a 55% increase to $134.5 million in combined online casino and sportsbook revenues.

The poker vertical got a boost from the launch of cross-border liquidity in France and Spain, and the Group announced that its Portuguese-licensed site is expected to join this European Union liquidity pool this month. But the firm now expects Italy, the fourth member of the EU pool deal signed last summer, won’t join the pool party this year.

However, real-money online poker active customer ranks declined 5.5% to $2 million during the quarter, in part due to PokerStars withdrawing from the regulated markets of Australia and Colombia 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.”

Totally Gaming says: Exciting times for Stars Group, and some wholly positive Q1 2018 results to match. Despite withdrawing from both the Australian and Colombian markets, the Group’s flagship PokerStars brand recorded laudable growth, and this was reinforced by its casino and sportsbook offerings.

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