PokerStars' Rake Increases In First QuarterRevenue From Poker Grows 1.1 Percent Year-Over-Year |
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Poker revenue for the world’s leading online poker platform was $218.7 million during the first quarter of 2017, the first rake increase for the site in three quarters.
Amaya, parent company of PokerStars, announced in its Q1 earnings report that poker revenue grew 1.1 percent compared to Q1 of 2016.
PokerStars has some 70 percent of the worldwide online poker market.
With all that said, poker made up 69 percent of total online gaming revenue of $317.3 million in the first quarter, down from 75 percent the year prior. The other online casino games and sports betting accounted for 27 percent of total revenue, compared to 21 percent in Q1 2016.
In other words, traditional peer-to-peer poker is representing an increasingly smaller portion of Amaya’s overall online casino gambling business.
The $317.3 million in sales was a 10 percent increase year-over-year. Net earnings grew 18.5 percent year-over-year to $65.75 million.
“We continued our momentum in the first quarter as we execute on our strategy and reinforce the foundation for sustainable and diversified revenue growth, including through the strengthening of our core management team and operations,” said Rafi Ashkenazi, Chief Executive Officer.
“Our company also continues to evolve through corporate initiatives to deliver the greatest value for our shareholders.”
Amaya also said that it will be changing its name to “The Stars Group” and moving its headquarters from Montreal to Toronto. Amaya bought PokerStars in 2014.
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