World’s top real money poker site released its financials for the second quarter of 2018, pulling in $217 million in poker revenue for the period ending June 30, resulting in a 6.9% year over year increase when compared to the revenue total of $202.9 million PokerStars reported for Q2 of 2017.
The boost in revenue was attributed to a number of factors that included positivity with regard to the site’s player loyalty program, Stars Rewards, as well as continued success of the liquidity sharing pool that joined players in the countries of Portugal, Spain and France. The first quarter of 2018 saw France and Spain combine forces, with Portugal coming aboard in Q2.
Poker Still Tops at PokerStars
Poker remains the biggest draw among the gambling offerings provided by The Stars Group. Rake from its online poker tables accounted for 52% of the company’s revenue in Q2, with the remaining 48% obtained from its other offered services of sports betting and online casino games.
Total revenue for the second quarter that combined poker, casino action and sports wagering was $411.51 million. That beat analyst estimates of $356 million by a significant margin. Quarterly earnings for Stars Group shareholders totaled $0.60 per share, topping the $0.56 per share of one year ago.
Shareholders likely have a reason for optimism in the future as PokerStars continues to dominate the online poker market worldwide. That dominance hasn’t stopped the poker room from spending some of its resources on research and development in an effort to attract new customers.
Growth in Many Directions
Q2 saw PokerStars roll out a new poker variant called “Unfold Hold’em” which may provide a boon to Q3 revenue reports and beyond. The new game that features the ability to get back in the hand post-flop and aim for a side pot after folding before the flop is geared toward recreational players, a customer base that the entire industry has been catering to in recent years.
In addition to launching a new game that is expected to be a permanent addition to PokerStars’ offerings, Q2 also was a time of growth on the acquisition front. The Stars Group announced the purchase of Sky Betting & Gaming last month, an acquisition that creates the world’s largest online gaming company that has a public listing.
Continued growth is also being banked on in the US following an announcement just days ago of a new partnership between PokerStars and the Mount Airy Casino Resort in Pennsylvania. The alliance will allow PokerStars to provide online gaming and sports betting in the Keystone State, which is now permissible thanks to a US Supreme Court decision in May that overturned the ban on wagering on sports.
The new poker variant, US partnership, and acquisition of Sky Betting were all put in place with an eye toward continuing
enhancing our products and user experience across all verticals and executing on our cross-selling strategy, stated Stars Group CEO Rafi Ashkenazi.