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Costs, ‘disrupted’ markets push The Stars Group to $52m loss

Online gambling operator The Stars Group (TSG) lost nearly $52m in the third quarter as costs grew faster than its revenue. Figures released Thursday by the Canada-based, US-listed TSG show total revenue of US$622.5m in the three months ending September 30, a year-on-year rise of nearly 9%. But rising expenses brought operating income down 77% to $16.3m, and the company booked a net earnings loss of $51.7m versus a $9.7m profit in Q3 2018.

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Flutter Entertainment

11/11/2019

article U.K’s Flutter Entertainment Relying on Its U.S Growth to Offset Declines in Online Business and Retail
(USA) -- U.K’s Flutter Entertainment is relying on its growth in the U.S market to offset declines in online business and retail back at home. This past Thursday,...

11/7/2019

article Costs, ‘disrupted’ markets push The Stars Group to $52m loss
(Wall Street) -- Online gambling operator The Stars Group (TSG) lost nearly $52m in the third quarter as costs grew faster than its revenue. Figures released Thursday by...
article Flutter’s US betting growth offsets overall online, retail decline
(Wall Street) -- UK-listed gaming giant Flutter Entertainment is relying on its US market growth to offset declines in both retail and online business at home. On...
article This is why the owner of Paddy Power saw revenues jump in the third quarter
(Wall Street) -- Paddy Power owner Flutter Entertainment saw revenues jump in the third quarter on the back of improving sales in the US and Australia.

10/11/2019

article Flutter Entertainment’s Acquisition of The Stars Group Could Place Gambling Markets On Path Toward More Consolidation
(UK) -- Last week, Flutter Entertainment — the parent company of Paddy Power Betfair, Sportsbet and FanDuel — announced its intent to purchase The Stars...

10/7/2019

article Flutter Entertainment $12.2 Billion Takeover Offer is Credit Positive For The Stars Group, Says Moody’s
(New York) -- Last week, Flutter Entertainment Plc revealed a $12.2 billion all stock offer for rival The Stars Group, a deal that, if consummated, would create a global...

10/5/2019

article Agenda: Flutter's Peter Jackson deals the perfect hand for Stars Group deal
(UK) -- Strategically, Flutter Entertainment’s purchase of the Stars Group is the real deal. In a world where bookies have struggled to gain traction in online...

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