The Stars Group Evolution Continues with Q2 Growth
Fresh from the official change of the Amaya brand which is now globally recognised as the Stars Group, this Canadian gaming giant has gone to publish a financial report which displays year-on-year growth across all key aspects in the second quartal.
The Star Group’s Beginning
The company’s rebranding was also followed by the head office move, which coincided with The Stars Group strengthening the core senior management team and saw a continuation of solid revenue growth for the most part driven by the company’s real money online casino offering.
The three months to June 30 have ramped up the total revenue by 6.8% to $305.3 million, compared to last year’s $285.8 million. Adjusted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) recorded a 12.8% increase and is currently at $171.7 million, whereas it is the net earnings which caused the most attention in the report.
Namely, this aspect of the company’s financial dealings went up staggering 213.3% all the way up to $70.5 million. In addition, adjusted net earnings soared up by 27.1% to $114 million. Diluted earnings per common share were also increased by whopping 199% to $0.35, whereas the adjusted net earnings per diluted share went up to $0.56 which is a jump of 22%.
Adjusted EBITDA for the first half of the year stands at $297.5 million, which is a rise of 17.5%, whereas the adjusted cash flow from operations rose to $226 million, or 96.6%.
The company plans to used the positive momentum to continue improving and strengthening the business and pursuing strategic objectives which are intended to cement The Stars Group’s position at the top of the industry.
The Stars Group’s net earnings soared up by 74.7% to 136.2 million, while adjusted net earnings got pushed up 30.2% to $227.4 million.