The Stars Group, the giant online casino group that incorporates some of the most popular gaming brands in the business, reported on excellent growth in the first quarter of the year across some of its key platforms. Year on year, the group saw growth in poker, casino and sports book revenues in the first three months of 2018, ending with March 31st.
Revenue was recorded at $392.9 million, compared to the $317.3 million reported on in the first three months of 2017. This was a 23.8% increase, according The Stars Group.
Highlights of TSG Q1 Report
* Real money poker revenue climbed 12.4% to $245.9 million.
* The combined revenue of casino and sportsbook climbed an impressive 55% to $134.5 million.
* Net earnings increased 13.1% (to $74.4 million from $65.8 million year on year).
* Adjusted net earnings increased 22.8% year on year from $113.4 million to $139.2 million.
* Diluted net earnings per share grew 9.1% to $0.36.
* Adjusted net earnings per common share grew to $0.66 - a 17.9% increase.
TSG Pleased with Q1 Numbers
The Stars Group's chief executive officer, Rafi Ashkenazi said in a statement that the group's first quarter results continued its organic growth trajectory.
"We are pleased with the performance of each of our verticals, poker, casino and sportbook, which are benefitting not only from the continued success of Stars Rewards, but also from our strategy of focusing on the customer and continued improvement to our product offerings," he said.
Looking ahead, the CEO said that "the exceptional foundation" of The Stars Group's existing business would be complemented by its recent acquisitions of CrownBet and William Hill Australia, as well as the impending completion of the Sky Betting and Gaming acquisition. Ashkenazi said that the acquisitions would help diversify the group's revenue base, increase its exposure to regulated markets and transform its 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 favoring igaming destination," said Rafi Ashkenazi.
Widespread Growth in 2017
Earlier this year, The Stars Group reported year on year growth for the entire year of 2017, ending December 31st.
Some of the key results from last year included a 13.6% increase in revenue to $1.31 billion; a 91.3% hike in net earnings to $259.3 million; a 25.2% increase in adjusted earnings to $458.9 million and diluted net earnings per common share stood at $1.27.
In March, Ashkenazi pointed out that the Stars Group had maintained its global dominance in online poker, while its online casino had already become "one of the largest in the world since its launch in 2014." Ashkenazi also said that the group's emerging sportsbook had not only recorded meaningful growth in turnover and revenues, but had also become a secondary customer acquisition channel.