The Stars Group shows 6.8 percent increase in revenue in Q2
August 17, 2017 9:39 AM
by Robert Mann
The Stars Group, the recently rebranded Canadian gambling titan, yesterday posted its initial financial report since jettisoning its former moniker, Amaya.
Industry observers generally regard the financial picture presented by the company as encouraging with considerable year-on-year increase in key performance indicators. For this reason, speculation as arisen that Stars Group is now considering merger and acquisition opportunities.
The newly released data showed a 6.8 percent increase in revenue for the second quarter of the year to $305.3 million and an 8.4 percent boost in revenue for the first half of 2017 to $622.5 million.
The Stars Group also saw a reduction of its debt during the first half of the year as it continued to pay off the financial obligation associated with the $4.9-billion acquisition of The Rational Group, parent company of its leading PokerStars brand.
The Stars Group recently relocated to Toronto from Montreal and reaffirmed speculation that it is seeking further expansion through mergers and/or acquisitions, according to media reports.