Not long ago, The Stars Group made its Q2 results public. And even though they invested heavily into FOX Bet and PokerStars Casino in New Jersey, the numbers show a positive trend. However, the $40 Million cash injection will offset the EBITDA and total revenue by quite much. And the reported numbers that projected gain between $2.64 Billion and $2.76 Billion took a huge hit.
But all and all, the adjusted figures are still more than decent for the group. And so, the Stars Group now believes that their revenue will be in between $2.5 Billion and $2.575 Billion. In fact, the adapted EBITDA for 2019 should land somewhere within $905 Million to $930 Million marks. And this translates into a shrinking estimation from $960 Million to $1.010 Billion.
US in full focus
Last May, the Stars Group and Fox Sports announced a new partnership. In fact, the deal resulted in a 25 years’ agreement. And the first-of-its-kind national sports and media wagering company, Fox bet too. All and all, the deal not only means that a new free-to-play games and real money wagering app would be available in New Jersey. But actually, 4.99% of The Stars Group shares ended up in FOX’s wallet too.
As you know, the new Fox Bet isn’t live yet. However, experts believe that the pair should announce a soft launch in the coming days. And depending on its popularity, it should also have a substantial impact on the Stars Group fiscal year.
$40 Million investment for the win
Without a doubt, Fox Bet is undoubtedly one of the most anticipated products for New Jersey. In fact, many cannot wait to see what a $40 Million investment can deliver. And let’s not forget to mention that the pair’s combined knowledge also inspires a certain amount of fear in their competitors too.
Without a doubt, New Jersey is seeing a real Clash of the Titans with Billions of dollars injected in the market. And in the end, players win as fierce competitions always mean more compelling offers for the end-users.