The Stars Group To Post Q2 2019 Results Next Week
Canadian gaming and online gambling company The Stars Group announced this week it would post its financial results for the second quarter of this year on Monday, August 12.
The three-month period covered by the soon-to-be-published report ended on June 30, and now it’s time to reveal the company’s performance.
Waiting for the Conference
The latest announcement was made amid the gaming giant’s expansion in the U.S. market.
According to the Toronto-based company, we can expect to get detailed information to the performances during the most recent quarter. The Stars Group’s quarterly reports give a clear overview of the financials and other data useful not only for shareholders but also for the entire industry.
All information regarding the second quarter will be announced during a special teleconference on Monday, when The Stars Group will reveal revenue, profit, net income, earnings before interest, tax, depreciation, and amortization (EBITDA), while the company will also offer a thorough analysis of the entire period, citing all factors that led to the eventual increase in performance or rise in profit.
This conference is scheduled to begin at 8:30 am ET, while all the information will be shared on the company’s official website.
Revealing Ambitious Plans
It will be a perfect opportunity for The Stars Group to reveal its goals for the future, as well as its expansion plans that are already underway. The Stars Group is likely to speak about its latest move – the partnership agreement with Penn National Gaming signed in late-July, which will allow the company to expand its presence to nine more states.
Under the provisions of the partnership agreement between The Stars Group and Penn National Gaming, the Toronto-headquartered gaming giant will offer its services in those states where Penn has already established its operations. This is a very important move, as The Stars Group will increase its market footprint to a total of 20 states across the U.S.
In practice, this means The Stars Group will offer its services in each an every state that has made sports betting legal following the decision of the U.S. Supreme Court to repeal PASPA and lift the federal ban on this activity. At this moment, states such as Illinois, Indiana, Ohio, and Texas have first skin access, while Kansas, New Mexico, Maine, Massachusetts, and Michigan offer second skin access.
But apart from sports betting, The Stars Group will also be able to offer online poker and gaming in 9 states. According to the agreement between the two companies, Penn National Gaming will get a portion of revenue, along with an upfront payment of $12.5 million.
Founded back in 2001 as Amaya Inc., The Stars Group today represents one of the leading names in the business, producing and offering online gaming products and services to customers around the globe, including poker, casino and sportsbook through its online gaming division, Stars Interactive. The list of online brands owned by the Canadian gaming giant include PokerStars, PokerStars Casino, BetStars and Full Tilt Poker.