The Stars Group Reports Second Quarter 2019 Results; Updates 2019 Full Year Guidance; Appoints New Independent Director
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(Toronto).- The Stars Group Inc. today reported its financial results for the second quarter ended June 30, 2019, provided updated 2019 full year guidance ranges, announced the appointment of an additional independent director to its Board of Directors, and provided certain additional highlights and updates. Unless otherwise noted, all dollar ($) amounts are in U.S. dollars.
"The second quarter underpinned the success of last year's acquisitions, particularly with the record performance of Sky Betting & Gaming and our increasing product and geographic diversification, as we continue to transform and position the business to execute on our strategy for strong, sustainable future growth," said Rafi Ashkenazi, The Stars Group's Chief Executive Officer.
"2019 has been and remains a year of integration, execution and debt reduction," said Mr. Ashkenazi. "We are committed to those key strategic priorities for the rest of the year while we also build our foundation and momentum to become a market leader in the U.S. We are confident that the actions we have taken over the last year, and are pursuing now, including to reassess our fixed cost base, put us in a strong position to deliver our mid-term growth targets from the end of 2019," concluded Mr. Ashkenazi.
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||
In thousands of U.S. Dollars | 2019 | 2018 | % Change | 2019 | 2018 | % Change | ||||||||||||
Total revenue | 637,618 | 411,512 | 54.9 | % | 1,218,002 | 804,403 | 51.4 | % | ||||||||||
Gross profit (excluding depreciation and amortization) | 463,708 | 327,875 | 41.4 | % | 881,456 | 640,502 | 37.6 | % | ||||||||||
Operating income | 93,955 | 1,064 | 8,730.4 | % | 155,492 | 114,931 | 35.3 | % | ||||||||||
Net earnings (loss) | 4,629 | (154,824) | 103.0 | % | 32,287 | (80,463) | 140.1 | % | ||||||||||
Adjusted Net Earnings ¹ | 137,469 | 131,023 | 4.9 | % | 243,069 | 269,785 | (9.9) | % | ||||||||||
Adjusted EBITDA ¹ | 236,734 | 168,271 | 40.7 | % | 432,089 | 343,293 | 25.9 | % | ||||||||||
Adjusted EBITDA Margin ¹ | 37.1 | % | 40.9 | % | (9.3) | % | 35.5 | % | 42.7 | % | (16.9) | % | ||||||
Diluted earnings (loss) per Common Share | 0.02 | (1.01) | 101.7 | % | 0.12 | (0.52) | 122.6 | % | ||||||||||
Adjusted Diluted Net Earnings per Share | 0.48 | 0.60 | (19.4) | % | 0.87 | 1.27 | (31.6) | % | ||||||||||
Net cash inflows from operating activities | 173,208 | 164,011 | 5.6 | % | 283,593 | 296,080 | (4.2) | % | ||||||||||
Free Cash Flow ¹ | 84,820 | 84,856 | — | % | 47,307 | 167,115 | (71.7) | % | ||||||||||
As at | June 30, 2019 | December 31, 2018 | % Change | ||||||
Long-term debt - principal | 5,195,398 | 5,666,075 | (8.3) | % | |||||
Long-term debt - carrying value | 5,088,915 | 5,446,958 | (6.6) | % | |||||
Cash - operational | 339,239 | 392,853 | (13.6) | % | |||||
Categoría:Others
Tags: The Stars Group,
País: Canada
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