Presenting its Q3 2017 trading update (period ending 30 September), Toronto TSX-listed online gambling firm The Stars Group Inc, states that it is confident of achieving its full-year 2017 targets and expectations following robust trading and KPI gains.
Updating the market, Stars Group would report Q3 2017 group revenues of $329 million, up 21% on corresponding Q3 2016’s $270 million. The company states that its period revenue uplift has been aided by strong customer take-up of its new ‘Stars Reward’ loyalty program.
The TSX firm details strong trading across its verticals, with an improved $95 million period contribution by its online casino and sportsbook assets (online poker – $221 million).
“Our operations and management continued to perform in the third quarter, delivering strong year-over-year growth bolstered by the launch of Stars Rewards,” said Rafi Ashkenazi, Chief Executive Officer.
“Not only did we see improvement in our poker business, but our casino continues to grow with a significant active player base and our online sportsbook continues to see meaningful growth in turnover. To build upon these achievements, we plan to focus on reinvesting in our core products and increasing our investment in marketing for the remainder of 2017 and into 2018 while continuing to explore further growth opportunities.”
Closing its Q3 2017 period, Stars Group would declare a group adjusted EBITDA of $155 million, combined with corporate net earnings of $75 million.
For its year-to-date trading, Stars Group has delivered a corporate EBITDA of $453 million, with net earnings of $212 million.
Detailing operational highlights Stars Group governance would point to high customer activity on its verticals which hit the 2.1 million mark with an improved player net-yield of $150.
In relation to its corporate financing, Stars Group details long-term debt of $2.45 billion. During the period the firm secured an additional $75 million under its second lien term loan agreement.
The Stars Group – Q3 2017 – Performance Overview