- It marks the fifth straight quarter of revenue falling in double digits.
- It is the weakest performance and lowest absolute revenue from the poker business in five years.
- Disrupted markets were blamed for the continued decline.
- The other verticals in The Stars Group’s “international” segment are no longer immune to these pressures.
Full year financial results from The Stars Group, parent company of PokerStars, show declining revenue from its online poker product that stretched across every quarter of 2019.
In the fourth quarter, the operator reported PokerStars revenue down 11.7%. It marks the fifth straight quarter of revenue falling in double digits.
For the year as a whole, revenue was $782 million, down 11.8%. It is the weakest performance and lowest absolute revenue from the poker business in five years and reverses a trend of slight growth observed in the two years prior.
The operator stated that revenue in constant currency was somewhat better—down 10.4% in Q4, and 7.4% for the year. Also, notably, 2% of the decline in Q4 was due to Spin and Go jackpot payouts, it was stated.
