Sky Betting and Gaming Sees 30% Revenue Rise

An acquisition report filed by The Stars Group reveals a 30% year-on-year rise in revenue for Sky Betting and Gaming.

According to an acquisition report filed by The Stars Group, Sky Betting and Gaming (SBG) saw an impressive 30% jump in revenue, to £670.4 million (€753.2 m) for the financial year ending 30th June.

The Stars Group completed its takeover of SBG in July this year, and according to its Chief Executive Officer, Rafi Ashkenazi, is now focused on integration with the aim of growing the business in key markets globally.

SBG reported a 33% increase in gross profit to £500.1 million (€561.9 m), and a 26% increase in operating profit to £86.7 million (€97.4 m).

The Stars Group CEO, Rafi Ashkenzai, said:

“2018 is a transformative year for the business, with three acquisitions and related financings and other significant changes to our corporate and capital structure…

“We are excited about SBG’s potential as the fastest growing and one of the largest online and mobile sports betting and gaming businesses in the UK, the world’s largest regulated online gaming market.”

Whilst Richard Flint, SBG CEO added:

“The 2018 fiscal year was another strong year for SBG, with continued product leadership and innovation…

“We enjoyed another year of growth, extending our leadership as the UK’s most popular online betting and gaming brand. We also continued our investment in brand, technology and people, and continued delivering innovative products that meet the needs of our customers, all of which we believe combined to drive strong operating results.”

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