{"id":5294,"date":"2020-04-20T08:01:35","date_gmt":"2020-04-20T08:01:35","guid":{"rendered":"https:\/\/www.bestonlinecasinosites.com\/news\/?p=5294"},"modified":"2020-04-20T08:01:35","modified_gmt":"2020-04-20T08:01:35","slug":"the-stars-group-reports-record-breaking-q1-revenue","status":"publish","type":"post","link":"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/","title":{"rendered":"The Stars Group Reports Record-Breaking Q1 Revenue"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Renowned global online gambling operator The Stars Group has recently reported <a rel=\"noreferrer noopener\" aria-label=\"anticipating record-breaking revenues (opens in a new tab)\" href=\"http:\/\/www.starsgroup.com\/press-center\/the-stars-group-news\/the-stars-group-provides-first-quarter-2020-and-general-business-update\" target=\"_blank\">anticipating record-breaking revenues<\/a> in the first quarter of 2020 despite the ongoing coronavirus pandemic. This is mostly attributed to the fact that the operator&#8217;s sites have been enjoying a lot more traffic as more people are now forced to stay in their homes as part of the <strong>efforts to contain the spread of COVID-19.<\/strong><\/p>\n\n\n\n<p>Already, revenue for the first quarter of the year ending March 31 stands at a whopping <strong>$735 million<\/strong> which is <strong>a 27 percent increase <\/strong>from what was recorded over the same period last year. Needless to say, the fact that The Stars Group mostly<strong> relies on online slots and online poker <\/strong>made its business immune to the effects of the closure of retail casino spaces.<\/p>\n\n\n\n<p>In fact, the operator attributes over 60 percent of its revenue to its flagship PokerStars brand which is quite popular across the world. It even happens to be the sole operator <a href=\"https:\/\/www.bestonlinecasinosites.com\/news\/online-poker-finally-live-in-pennsylvania\/\">in states like Pennsylvania<\/a> where the online gambling boom is on full-throttle.<\/p>\n\n\n\n<p>That said, even though the gambling industry as a whole is\ncertainly going to take a hit until the pandemic is finally contained and\nthings go back to normal, the online gambling industry might come out even\nstronger in the end. The Stars Group CEO is quite confident that the company\nwill ride out the turbulent wave.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;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.&#8221; <\/p><cite> THE STARS GROUP CEO RAFI ASHKENAZI. <\/cite><\/blockquote>\n\n\n\n<p>However, not all of its offerings will be spared. In certain\nmarkets such as the European one, the company is set to lose millions due to\nthe absence of sporting activities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"merger-with-flutter-entertainment-still-on\">Merger with Flutter Entertainment Still On<\/h2>\n\n\n\n<p>Meanwhile, The Stars Group is still pursuing its global expansion plans which happen to include a <a rel=\"noreferrer noopener\" aria-label=\"lucrative merger with Flutter Entertainment (opens in a new tab)\" href=\"https:\/\/www.ft.com\/content\/8e81350f-fdc3-4c21-9442-e823363d7767\" target=\"_blank\">lucrative merger with Flutter Entertainment<\/a>, another global gaming giant. The merger has already been approved and it seems that both companies are working really hard towards closing it. When that is done,<strong> the newly formed company will be the biggest gaming operator in existence.<\/strong><\/p>\n\n\n\n<p>The coronavirus pandemic is already having quite an impact\non both companies&#8217; businesses but their leaders believe that they are better\nplaced to survive the hit as an entity. That said, it could be possible that the\nmerger deal will be finalized very soon. Still, this move is going to be very beneficial\nin the long term as they will now have access to an even larger customer base\nand be able to cater to different markets with a more diverse range of product\nofferings.<\/p>\n","protected":false},"excerpt":{"rendered":"Renowned global online gambling operator The Stars Group has recently reported anticipating record-breaking revenues in the first quarter of 2020 despite the ongoing coronavirus pandemic. This is mostly attributed to the fact that the operator&#8217;s sites have been enjoying a lot more traffic as more people are now forced to stay in their homes as [&hellip;]","protected":false},"author":7,"featured_media":5296,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[454,282,564,194,223,405],"class_list":["post-5294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-flutter-entertainment","tag-merger","tag-pandemic","tag-pokerstars","tag-revenue","tag-the-stars-group"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Stars Group Reports Record-Breaking Q1 Revenue - Best Online Casino Site News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Stars Group Reports Record-Breaking Q1 Revenue - Best Online Casino Site News\" \/>\n<meta property=\"og:description\" content=\"Renowned global online gambling operator The Stars Group has recently reported anticipating record-breaking revenues in the first quarter of 2020 despite the ongoing coronavirus pandemic. This is mostly attributed to the fact that the operator&#8217;s sites have been enjoying a lot more traffic as more people are now forced to stay in their homes as [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"Best Online Casino Site News\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-20T08:01:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bestonlinecasinosites.com\/news\/wp-content\/uploads\/sites\/2\/2020\/04\/thestarsgroup-logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"907\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sandra Mullen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sandra Mullen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/\"},\"author\":{\"name\":\"Sandra Mullen\",\"@id\":\"https:\/\/www.bestonlinecasinosites.com\/news\/#\/schema\/person\/e971f503b9c396bc85e5f652fb45cd45\"},\"headline\":\"The Stars Group Reports Record-Breaking Q1 Revenue\",\"datePublished\":\"2020-04-20T08:01:35+00:00\",\"dateModified\":\"2020-04-20T08:01:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/\"},\"wordCount\":451,\"publisher\":{\"@id\":\"https:\/\/www.bestonlinecasinosites.com\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.bestonlinecasinosites.com\/news\/wp-content\/uploads\/sites\/2\/2020\/04\/thestarsgroup-logo.jpg\",\"keywords\":[\"Flutter Entertainment\",\"merger\",\"pandemic\",\"PokerStars\",\"Revenue\",\"The Stars Group\"],\"articleSection\":[\"Industry\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/\",\"url\":\"https:\/\/www.bestonlinecasinosites.com\/news\/the-stars-group-reports-record-breaking-q1-revenue\/\",\"name\":\"The Stars Group Reports Record-Breaking Q1 Revenue - 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