STARS Group Posts Record Revenues for 2020 Q1

Apr 30

If you think that the current situation will negatively impact all companies worldwide, think again. As of this writing, the STARS Group has released its latest trading update which shows a 27% year-on-year increase in revenues. The record-breaking increase saw the company earning $735 in the first quarter of 2020, despite the looming threat of a pandemic.

This steady growth despite the trying times is attributed to the steady performance and growth of their online casino and online poker portals. The growth in these two segments has helped stem the losses that come from the sports betting sector of the group due to cancellations. The growth in revenue for Q1 of 2020 is also due to the increase in customers registering from Australia and UK. For the month of March, the company also posts that they saw a 44% increase in international revenue.

STARS Group has also stated that not only did they see an increase in revenues in the first 3 months of the year but this revenue stream continued on into April, which is the first month for Q2. This means that the company is well on its way to continuing its earning streak despite the dangers and threat of the Covid-19 extending over the rest of the year.