Market Movers The Stars Group Inc. (TSGI-T) was up 15.4 per cent after reporting fourth-quarter results before market open.
The online gaming company reported an 81.2-per-cent rise in revenue year-over-year, which fell short of the Street's estimates for the first time in at least the last eight quarters. The company's earnings per share of 52 cents did beat the consensus projection by 8 cents.
"2018 was a landmark year for the company," said CEO Rafi Ashkenazi. "We completed the acquisitions of Sky Betting & Gaming in the U.K. and BetEasy in Australia, extended our licensed footprint to 21 jurisdictions around the world and began laying the foundations to grow our presence in the U.S.
"Our International business saw strong organic growth in the year despite restrictions in certain markets and lapping the initial roll-out of our Stars Rewards program. Our United Kingdom and Australia segments both performed in-line with our expectations during the fourth quarter, and we believe they are currently well-positioned to continue gaining market share in 2019."