The Stars Group ups 2017 earnings guidance following ‘busy’ H1 2017

Toronto TSX-listed The Stars Group (formerly Amaya Inc) has today published its H1 2017 interim results (period ending 30 June) detailing continued growth across all its core reporting metrics.

Driven by high player activity across its product channels, Stars Group would report H1 2017 group revenues of $622 million, up 8% on corresponding 2016’s $574 million.

A pleased Stars Group governance would highlight the positive contribution of its growing online casino and sports betting divisions which now generate approximately 29% of group revenues (vs 67% generated by legacy Poker product).

Closing a period of high activity in which the operator rebranded its corporate image, lunched a new loyalty program and appointed a number of new executive team members, The Stars Group would declare an H1 2017 adjusted EBITDA of $297 million.

The online gambling group continues to be branded as a Toronto TSX strong performer declaring period ‘adjusted net earnings’ of $136 million.

For its full-year guidance, Stars Group maintains its group target of $1.2- $1.6 billion in corporate revenues combined with an adjusted EBITDA range of $560-$580 million. However, the TSX operator has lifted its earnings target to $413 -$437 million, from $430 million presented at the start of 2017.

Issuing a forward looking statement Stars Group Chief Executive Rafi Ashkenazi, detailed

“Our evolution and transformation into The Stars Group continued as we completed our name change and head office move, while our second quarter saw the strengthening of our core senior management team and continued solid revenue growth led by our real money online casino offering,”

“We plan to use this momentum to continue improving and strengthening our business and pursuing our strategic objectives.”