Shares in The Stars Group hit a new 52-week high in Toronto Thursday after the company reported strong results for the first quarter of 2018, with revenue increasing 24 per cent to US$392.9m.
Excluding the impact of year-on-year changes in foreign exchange rates, revenue for the quarter would have increased by 12 per cent. Online poker accounted for 63 per cent of the total.
"The Stars Group's strong first quarter results continued our organic growth trajectory," said chief executive Rafi Ashkenazi. "We are pleased with the performance of each of our verticals, poker, casino and sportsbook, which are benefiting not only from the continued success of Stars Rewards, but also from our strategy of focusing on the customer and continued improvements to our product offerings."