The “Poker Industry Pro” website reported that the revenue of Pokerstars in the third quarter reached a record low. Revenue decreased by 12% year-on-year.
This is at least the third consecutive year-on-year decline of Pokerstars. Total revenue fell to US$191.5 million. According to the chart provided by “Poker Industry Pro”, this is the first time that PokerStars has failed to earn $200 million in revenue since 2016.

PokerStars
PokerStars

PokerStars Revenue Decline Trend

At a constant exchange rate, the decline was slightly smaller, at 7%. However, it is an indisputable fact that the world’s largest online poker operator faces the dilemma of falling revenue.

In the third quarter of 2018, Pokerstars achieved a profit of $212.8 million. Compared with the same period last year, it has dropped by 3.9%. Revenue fell to $210.9 million, a 10% year-on-year decline, in the following quarter.

In the third quarter of this year, revenue fell to $191.5 million, the lowest in the five-year trend.

The company has been working towards a goal of $900 million, In the past two years. This year’s figure has barely exceeded 800 million US dollars.

Investors also noticed this. After the release of the data, the share price of PokerStars’ parent company Star Group fell from $16 last weekend to around $13 on Monday. It then rebounded to $13.95.

The Decline in The Importance of Poker

After the completion of the Sky Gaming acquisition in 2018, PokerStars became a major player in the online sports betting market. Then poker’s position in the company’s operations declined sharply.

In terms of the company’s revenue share, poker is surpassed by sports for the first time. Not only that, but casinos also surpass poker. Poker revenues account for 30.4% of total revenue, while casino revenues account for 30.8% and sports revenue 35.7%.

As PokerStars further enters the US sports betting market. Such as the recent cooperation with Pennsylvania Gaming, this trend may continue.

Latest Trends of PokerStars

In the online poker market, PokerStars is still the industry leader. Pokerscourt shows that the site’s player traffic is more than three times that of the second competitor. But in fact the market share of PokerStars is declining. A year ago, the company’s traffic was more than four times that of the second-ranked website.

To change this trend, PokerStars has made some efforts. For example, because the player demand is too low. Spin&Go is withdrawing from the closed Indian market (USD), replacing it with traditional SNG and headhunting. This change will take effect on Friday.

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