Stars Group which is the parent company of online poker giant PokerStars had relied heavily in the past on online poker revenues. However things have changed for the Stars Group in the last couple of years and now online casino and live dealer casino revenues also provide a significant percentage to the company’s revenues.
Online poker revenues increased by $221.4 million which was a 12.5 percent increase while sportsbook and online casino revenues increased significantly and brought in $95.2 million year-on- year which was a 48 percent increase.
In a statement, Rafi Ashkenazi, CEO said
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. We are now one of the world’s largest online casino and online live dealer casinos among our public competitors based on active players, which is an outstanding achievement for such a young offering
The Stars Group reported that its active quarterly users went up by 2.1 percent which is around 2.1 million. The vast majority of these users (2 million) played online poker while online casino users increased by 20 percent (553,000) and its sportsbook whose demography is restricted by jurisdiction went up by 14 percent (270,000).
The company now has its sights on the online gaming market in Pennsylvania. Legislators approved an online gambling bill in Pennsylvania recently, making it the first state in over 5 years to have legalized online gaming. Marlon Goldstein who is the chief legal officer said that the company was looking at applying for an online gaming license as well as evaluating different partnership options to enter the Pennsylvania market.
The Stars Group has been one of the major lobbyists who have campaigned for the legalization of online gaming throughout the United States. The company remains confident that other states will soon follow in the footsteps of Pennsylvania.
Summary: Architects have discussed the latest technologies and trends in casino design at the IGA…
Summary: The Indian Gaming Association Tradeshow & Convention has come to an end on Thursday.…
Summary: Fontainebleau Las Vegas has announced the appointment of four new executives. The new execs…
Summary: Boyd Gaming has offered details of the major renovation plan aimed at Suncoast Hotel…
According to a poll contracted by NBC affiliate WRAL News in Raleigh, the people of…
Summary: House Bill 2835 will legalize and regulate the machines. Businesses would be limited to…