The Star Group Gets a Record-Breaking First Quarter

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The Star Group
The Star Group Revenues Are Sky Rocketing!

Online Pokies are thriving during this current economic recession. In turn, it has led to a lot of rising concern and scrutiny towards the increase in online gambling.

But, this is quite justifiable considering the fact that most land casino players are diverting to real money online casinos. Additionally, casino games seem to be a better way of making sure that people observe the social distancing rules.

Therefore, this would explain how the Star group is recording one of the best ever quarters in the company’s history. This is despite the fact that most companies are facing an economic recession which may lead to them becoming bankrupt.

The Star Group 2020 Revenues So Far

In recent records, The Star Group revenues have increased by 27% in just three months.   Therefore, the company has made $735 million from January to March 31.

Additionally, the main reason for this success can be due to the fact that the Star Group also focuses on online casino gaming. Hence, it is not heavily affected by the lack of sporting activities to support sports betting.

The Star Group
The Star Group

For example, 62 % of its 2019 revenues came from online casino gaming only. During its pitch to investors, the company confirmed the fact that focusing on online casino gaming will help them stay afloat during the economic recession.

TSG Poker and Slot Games Revenues Up

Ever since the postponement of sporting activities, the sports betting department has suffered major losses. In turn, most of the bettors are now enjoying online casino slot games.

Also, with land casinos on shutdown, online poker seems to be getting quite popular. Therefore, this would explain the 44% rise in revenue from online poker and slot games.

Rafi Ashkenazi, CEO of TSG, states how the company’s gaming diversity will help them weather the COVID 19 storms. They are still recording a healthy cash inflow.

Additionally, the Star Group is still growing and creating mergers to help increase their source of revenue. Recently, the company has been negotiating a merger with a sports betting bookie, Flutter.

Conclusion

If the COVID 19 shutdown, The Star Group’s revenue will definitely skyrocket.  Meaning, the chances of them surviving this economic recession are quite unquestionable more people are actually relying on online casino gaming for real money games. However, the question reaming, will they be able to go back to land casinos?

Star Group FAQs

How Much Does TSG Earn per Year?
In its recent report, the Star Group has recorded over $ 700 million in revenue since January 2020. Meaning, it might be a good year for the gaming providers.
How Many Casinos Does the Star Group own in Australia?
Currently, the TSG is in charge of 3 of the biggest casinos in Australia.
How much is TSG worth right now?
The gambling providers are currently worth over 2 billion dollars.
How Many employees does TSG have?
Before the COVID 19 recession, TSG had about 8 000 employees. However, after a lot of cut downs have been made to avoid the financial crisis, there is no certainty of how much they are worth now.
Who is the owner of TSG?
TSG is owned by Star Entertainment. However the current CEO is Matt Bekier.

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