The Stars Group saw its revenue soar by 73.6% to US$572 million in the three months to 30 September 2018, boosted by the recent acquisitions of Sky Betting & Gaming and BetEasy.
The addition of the UK and Australian betting verticals also saw Adjusted EBITDA for the quarter increase 27.3% year-over-year to US$198.3 million, while gross profit was up 65.8% to US$442.8 million.
“This was a landmark quarter during a transformative year for the company as we begin to deliver on our vision to become the world’s favorite iGaming destination,” said The Stars Group CEO Rafi Ashkenazi.
“We completed our acquisition of Sky Betting & Gaming, which was cleared by the CMA in October, making us the leader in the UK online betting and gaming market. We also launched BetEasy in Australia and sports betting in New Jersey.
“We are pleased with our quarterly results, which reflect both continued organic growth from our International business and contributions from both BetEasy and Sky Betting & Gaming, despite unfavorable sporting results during the period.
“As we continue our transformation and look towards 2019, we are excited to take advantage of the opportunities ahead of us by leveraging our leading positions in attractive markets, strong brands, technology and operating expertise.”
The Stars Group’s 3Q18 results included revenue of US$212.8 million from its core poker operations, a 3.9% year-on-year decline due to the impact of changes in foreign exchange rates and the cessation of operations in Australia in September 2017.
Gaming revenue for the quarter grew 28.9% to US$107.6 million on the back of content additions to PokerStars Casino and the product’s launch into new markets, while betting revenue through BetStars grew 79.9% to US$21 million.
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