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Stars Group slips to net loss despite revenue growth in Q3


The Stars Group has posted a net loss of $51.7m for the third quarter of 2019, despite its operations in the UK and Australia pushing revenue up 8.8% during the period.

Total revenue for the three months through to 30 September 2019 amounted to $622.5m, up from $572.0m in the corresponding period last year.

UK revenue increased 34.8% from $168.4m in Q3 of 2018 to $227.0m this year. Stars noted that the year-on-year result was helped by the fact that it owned and operated Sky Betting & Gaming for all Q3 this year, whereas last year it acquired the business on July 10, partway into the reporting period.

Sports betting was by far the main source of revenue in the UK, contributing to $130.0m of market revenue, while gaming also performed well by generating $85.2m in revenue for the quarter.

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