Canada-based The Stars Group saw its revenues increase by 5.4 per cent to US$687.9m in Q4 2019, thanks to growth in the UK and Australia.
Adjusted EBITDA stood at $249.1m ($239.4m), a 4.1 per cent increase year-on-year, while gross profit (excluding depreciation and amortisation) stood at $497.4m in Q4 ($486.8m), a 2.2 per cent increase on the previous year.
Net earnings for The Stars Group increased to $81.2m, a significant gain on the corresponding 2018 period’s loss of $38.2m representing a 313 per cent improvement.
Growth within the UK and Australia was largely driven by strong underlying trends in customer activity and revenues, as well as a year-over-year increase in betting net win margin.
During the quarter, online betting was the largest vertical for the firm, representing 39.1 per cent of the business in Q4 2019, as opposed to 34.3 per cent in 2018. This was followed by online casino at 30.8 per cent, versus 30.1 per cent of revenue in the previous year.
Rafi Ashkenazi, The Stars Group's chief executive officer, said: "In 2019, we continued to execute on our strategy to deliver long-term sustainable growth and become the world's favourite igaming destination.
“We not only began to see the full-year benefits of our transformative 2018 acquisitions but executed on delivering a landmark media partnership in the US, with the launch of Fox Bet, strengthening our position in this emerging market.
"We also focused on creating shareholder value through efficient capital allocation, prepaying over $450m of debt during the year."
