STS Group Boosts Revenue in Q2 Ahead of Entain Takeover
Kate Marshal
17 July 2023
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Mateusz Juroszek, CEO of STS Group
STS Group, the leading Polish gambling operator, has reported a 26% jump in net gaming revenue for the second quarter of 2023.
As STS is gearing up for its takeover by Entain, the British gambling powerhouse, it also raked in $278 million in bets in Q2 2023, a 3% uptick from the same quarter last year.
Gross gaming revenue (GGR) also soared by 14% year-on-year, reaching $75.1 million. Net gaming revenue (NGR) jumped by 26% compared to Q2 2022, totaling $42.8 million.
STS CEO Mateusz Juroszek said that these impressive figures show the company’s strong growth in the Polish market.
“The potential of the domestic iGaming industry is high, and STS is able to effectively exploit its market position. We hope to record the highest player activity in the last quarter of this year”, Juroszek said.
The announcement comes as the acquisition by British gambling giant Entain nears completion — Entain raised about €700 million through a share placement in June to buy STS Group, with the final deal value agreed at €870 million.
In July, Entain got the green light for the acquisition of STS from the President of the Office of Competition and Consumer Protection.
The deal is expected to close by early August.
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