The concerns about the Russian market were shared as part of an overall earnings report that showed a steady 2017 for the group, which includes PokerStars and other online poker and internet casino sites. Total annual revenue was up 13.6 percent for fiscal 2017, hitting more than $1.3 billion mark. Other earnings figures were also up, with net earnings rising by more than 25 percent.<\/p>\n
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But then growth slowed down in Q4 2017. Stars Group also projected that growth would continue to be stymied in 2018, predicting just a six to 12 percent growth rate in revenues when compared to the previous year. Earnings per share also came up just a bit short of analysts\u2019 estimates, returning $0.54 per share, rather than the predicted $0.57.<\/strong><\/span><\/p>\n<\/div>\nThose points may have explained why the Stars Group saw its stock price drop by nearly 10 percent following the report. That adjustment seemed to be temporary, however, as the price rebounded in a matter of just hours. Several analysts, including Zacks Investment Research, moved the Stars Group from a \u201chold\u201d to a \u201cbuy\u201d rating following the earnings report, saying they expect continued growth for the company in the years to come.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Stars Group pointed to Russia as a potentially troublesome market for 2018 as part of the company\u2019s 2017 earnings report. The report included guidance on what the online gambling giant,\u00a0formerly known as Amaya, is expecting in terms of earnings for 2018. Those figures included an assumption that Russia will implement new online gambling rules […]<\/p>\n","protected":false},"author":42,"featured_media":73074,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,19,60,61,13592,1074],"tags":[],"acf":[],"yoast_head":"\n
New Russian Online Gambling Regulations Cause Stars Group Concern<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n