The Stars Group Sees Poker Revenue Increase in Q2, 2018

the-stars-group-pokerThe Stars Group (formerly Amaya) had a very successful Q2 of 2018. They saw a 34.8% revenue increase to $411.5 million.

The company also made some big moves, acquiring the CrownBet Holdings and William Hill Australia sports betting operations.

“We continued enhancing our products and user experience across all verticals and executing on our cross-selling strategy,” said The Stars Group CEO Rafi Ashkenazi.

“The continued emergence of our sports betting and casino offerings and the addition of our 2018 acquisitions have transformed our business and greatly enhanced the foundation and diversity of our consolidated revenue base.”

Online Poker Up 7% in Q2, 2018

Internet poker traffic has steadily declined over the past several years. However, PokerStars defied the market by increasing their poker revenue by 7% to $271 million.

Online poker is still the big moneymaker for The Stars Group. It accounted for nearly 53% of the company’s overall revenue in Q2.

The Stars Group’s report notes that their revamped loyalty program and shared poker liquidity in Europe helped boost their poker platform.

Online Casino and Sportsbook also Up in Q2

The Stars Group saw even bigger growth from their online casino and sportsbook. The online casino revenue spiked 26% to $102 million. CasinoStars has added over 150 games since the start of 2018, which explains the increase.

BetStars saw the biggest increase of all, growing 122% to $19.6 million. This sportsbook’s massive rise can be explained by the boost they got from the 2018 FIFA World Cup. BetStars also benefited by adding over 200,000 new members.

Ashkenazi Looks Forward to Bright Future

Ashkenazi believes that The Stars Group is poised for even more growth as they continue transforming from a poker-only operation to more verticals.

“We are now focused on the next stage of our transformation—integration,” he said.

“While this will be a phased and measured process, we expect that it will prepare us to not only be a leader within the world’s largest regulated markets but to also leverage the strength of our combined platform to take advantage of new opportunities and markets.”

Tags: , , ,