The Stars Group, a global gaming and poker colossus, has let it be known that they have experienced a 16% year-on-year rise in their revenues for 2017’s fourth quarter.
The company reported Q4 revenues of US$360.2 million, a rise from the US$310.2 million during the same period in 2016, and net earnings have grown as well, albeit more modestly, by 4.7% during the period, standing currently at US$47.1 million.
The Star Group’s yearly figures for growth make for an impressive read, with net earnings increasing 91.3% to US$259.2 million during 2017, and revenue managing to top US$1.3 billion.
Delving down into individual segment of business revealed:
- Online poker revenues during the fourth quarter of 2017 amounted to US$234 million, showing an increase of 7.9%. During the whole of last year, online poker revenue rose by 3.7% year-over-year, to US$877.3 million.
- Real money online casino and sportsbook activities were the Stars Group’s biggest winners, generating combined revenue for the quarter of US$112.5 million. This is an increase of roughly 40% year-over-year. At a full-year level, real money online casino and sportsbook managed to generate US$384 million for the Group, an increase of about 45% year-over-year.
Stars Group CEO, Rafi Ashkenazi, revealed in the statement announcing these results the reasons for them. He stated that the Group had strengthened its core Senior Management team, delivered another year of record-breaking revenue, which had allowed the to significantly deleverage and continue to strengthen their balance sheet. He added that this was all happening alongside the company’s continued investment in marketing, various growth initiatives, and technology infrastructure that would support the business’ long-term growth.
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