Company News

BUZZ-Stars Group: Earthbound as Q1 profit, rev miss on poker weakness

** U.S.-listed shares of Canadian online gambling firm fall ~5% to $17.61 premarket - set for its fourth straight session of losses

** Co’s Q1 revenue, profit miss estimates; says operational conditions, the cessation of operations in certain markets and foreign exchange headwinds had a significant impact on reported results

** In international segment, co’s revenues from poker fell ~13% from a year-ago, while gaming revenue fell 7.3%

** Co’s gaming, poker revenue both decrease as well due to foreign exchange fluctuations

** Revenue misses for second straight quarter after at least 7 straight quarters of topping estimates

** TSG up ~12% YTD vs 29.1% slump in 2018 (Reporting by Arjun Panchadar in Bengaluru)