Stars Group Posts Profit In Q4

(RTTNews) - Stars Group, Inc. (TSG, TSGI.TO), a Canadian gaming and online gambling company, Thursday reported a fourth-quarter net profit of $81.3 million compared to a net loss of $38.2 million last year. Earnings per share was 28 cents versus loss of 14 cents last year.

On an adjusted basis, net earnings were nearly flat at $144.8 million, while earnings per share slid to 49 cents from 52 cents last year.

The Group's revenue for the fourth quarter rose 5.4 percent to $687.96 million from $652.8 million last year, primarily due to growth within the United Kingdom and Australia segments.

CEO Rafi Ashkenazi said in a statement, "...With sports betting now our largest product vertical and 81% of our revenues coming from locally regulated or taxed markets, we are well positioned for diversified growth in 2020 and beyond."