According to its most recent trading update, Stars Group saw record revenue for Q1 2020 of $735m, a rise of 27% year-on-year.
Operating income was in the range of $140m – $149m, up 133%, while adjusted EBITDA was between $291m – $297m, an increase of 51%.
The operator attributed its continued growth to the strong performance of its online poker and casino segments which helped to mitigate the cancellation of sporting events.
The trading update also describes “strong underlying momentum in customer activity in the UK and Australia segments,” and “a year-over-year increase in betting net win margin.”
The operator also saw international revenue growth of 44% for the month of March.
The growth in online poker and casino has continued into the first two weeks of Q2, with consolidated average daily revenue reportedly 33% higher in comparison to Q1.
Rafi Ashkenazi, CEO of Stars Group, said: “With these encouraging trends, a well-diversified and cash-generative business, and our strong balance sheet, we believe that we remain well-positioned to navigate further headwinds related to the COVID-19 pandemic in 2020.
“We remain fully committed to our combination with Flutter, which we now expect to close in the second quarter and are confident will enhance and accelerate our growth strategy.”
