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The Stars Group has released the details of its growth opportunities and medium-term financial and leverage targets.
The gaming group updated its target range aims for the next three to five years, with annual constant currency revenue growth going up from eight per cent to 12 per cent; adjusted EBITDA margin range in line with 2019 financial guidance; and annual adjusted diluted net earnings per share growth of at least 10 per cent, and leverage of 3.5x or lower.
In a Q1 2019 update, the group stated it expects international segment revenues of around $345 to $355m, with strong underlying growth in most markets offset by certain market closures.
Stars Group CEO Rafi Ashkenazi said: “Looking ahead, we will strive to enhance our leadership positions within the high-growth markets in which we operate, as well as leverage the full suite of assets and capabilities across our businesses to provide what we believe to be the most exciting and engaging gaming experience to our customers.”
“With powerful structural growth drivers in our industry, including a broad trend towards locally licensed online gaming, we believe that as one of the most licensed online gaming operators in the world, with proprietary technology that supports a highly scalable business model with limited capex, we are well-positioned to capitalise on this trend. We are focused on using our competitive advantages to continue to deliver strong organic growth and steady free cash flow generation to support our accelerated deleveraging plans while driving long-term shareholder value.”
Source: Latest News on European Gaming Media Network
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