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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.
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?
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