Stars Group Revenue Increases by 13.6% In 2017
The Stars Group Inc. who run online poker giant PokerStars have recorded a 16.1% growth for Q4 2017 to reach $360.2m. For the full year the figures were up 13.6% to $1.3 billion driven by the growth of their online casino and sportsbook divisions.
The sportsbook and online casino vertical made up $112.5m in Q4 which was a 40.3% year-on-year and $384m for the year. The trend of overall revenue increases coming from casino and sportsbook instead of online poker continues to grow and now accounts for as much as 30%.
Online poker revenues for the Q4 were $234.4m which is an increase of 7.9% for the prior periods and $877.3 m annually which is a 3.7% increase year-on-year.
CEO Rafi Ashkenazi commented on the latest numbers and said,” 2017 marked our evolution and transformation into The Stars Group. We maintained our global dominance in online poker, with the business experiencing year-over-year growth in that vertical. Our online casino has already become one of the largest in the world since its launch in 2014 and our emerging online sportsbook not only recorded meaningful growth in turnover and revenues, but started to become a secondary customer acquisition channel.”
He went on to point out the plans for 2018 which include growth initiatives through geographic expansion and “ improving focus and understanding of our customers “.