- PokerStars’ online poker revenue in the third quarter of 2018 totaled $213 million, a decline of 3.9% year-over-year.
- Q3 figures represent the first drop in online poker revenue in five quarters, though on a constant currency basis poker revenue was up 0.3%.
- It was notable that not a single slide of the presentation nor one analyst question was dedicated to online poker.
PokerStars’ online poker revenue in the third quarter of 2018 totaled $213 million, a decline of 3.9% year-over-year, the company reported this week.
It represents the first drop in online poker revenue in five quarters, though on a constant currency basis poker revenue was up 0.3%, the company said.
Beyond FX movements, the company blamed the departure from Australia in September 2017, a strong World Cup diverting customer wallets from poker to sports, and the lapping of the introduction of Stars Rewards impacting yearly comparatives.
“This is an important product vertical for us, with high barriers to entry and it provides us with a large and low cost customer acquisition channel to cross-sell to our other product verticals,” said Brian Kyle, The Stars Group’s CFO, in an analysts call on Wednesday.
