The Stars Group revenue from PokerStars dropped by 30% in 2019
The Stars Group gambling company published the financial report concerning the results of its activities in 2019. The company’s owners stated that last year they managed to implement the strategy for a long-term sustainable growth of organization.
As for online poker, The Stars Group results turned out to be precisely the opposite. For the fourth quarter of 2019, PokerStars earned $188.9 million, which is 10.4% less than the last year’s corresponding period.
In total, PokerStars got $821.3 million in 2019. This amount is $65.3 million less than for the same period last year (7.4%).
PokerStars results concerning the total revenue of The Stars Group in 2019 appeared to be much worse. The company’s profit share from poker amounted to 27.5% of total income. Compared to 2018, The Stars Group revenue from PokerStars dropped by 10%.
The negative tendency with profit from online poker has several factors: the closing of the Swiss market, the problems in markets of Spain and Sweden, unfavorable exchange rate.
Flutter Entertainment company purchased The Stars Group and it will probably have a negative impact on the development of the most popular poker room.