The Stars Group Reports Second Quarter 2019 Results; Updates 2019 Full Year Guidance; Appoints New Independent Director

Publicado 12/08/2019 13:35:37CET

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30, In thousands of U.S. Dollars 2019 2018 --- Operating activities

Net earnings (loss) 32, 12 Ago. (80,463) - Add (deduct): Income tax expense (recovery) recognized in net earnings (loss) 7,983 (2,249) Net financing charges 115,222 198,710 Depreciation and amortization 218,375 83,843 Stock-based compensation 7,462 5,948 Unrealized loss on foreign exchange 656 68,996 Unrealized gain on investments (485) (164) Impairment of property and equipment and intangible assets 2,652 1,074 Net earnings from associates (1,068) Realized (gain) loss on current investments and promissory note (292) 28 Income taxes paid (46,512) (15,772) Changes in non-cash operating elements of working capital (57,433) 18,525 Customer deposit liability movement 2,346 13,901 Other 1,332 4,771 Net cash inflows from operating activities 283,593 296,080 Investing activities Acquisition of subsidiaries, net of cash acquired (310,563) Additions to intangible assets (18,505) (11,842) Additions to property and equipment (8,178) (9,261) Additions to deferred development costs (39,033) (16,190) Net (purchase) sale of investments utilizing customer deposits (2,043) 16,044 Settlement of minimum revenue guarantee (675) (2,713) Net investments in associates 1,068 Other (356) (1,137) Net cash outflows from investing activities (68,790) (334,594) Financing activities Issuance of Common Shares 235,963 646,000 Transaction costs on issuance of Common Shares (24,225) Issuance of Common Shares in relation to stock options 1,784 27,627 Issuance of long-term debt 425,041 Repayment of long-term debt (367,875) (106,493) Transaction costs on long-term debt (23,061) Repayment of lease liability principal (8,064) Interest paid (142,285) (66,278) Acquisition of further interest in subsidiaries (48,240) Proceeds on loan issued to the holders of non-controlling interest 4,894 30,918 Net cash (outflows) inflows from financing activities (275,583) 861,289 (Decrease) increase in cash and cash equivalents (60,780) 822,775 Unrealized foreign exchange difference on cash and cash equivalents 5,571 (6,090) Cash and cash equivalents - beginning of period 721,076 510,323 Cash and cash equivalents - end of period 665,867 1,327,008

For investor relations and media inquiries, please contact: Vaughan Lewis, Senior Vice President, Communications, press@starsgroup.com[mailto:press@starsgroup.com], ir@starsgroup.com[mailto:ir@starsgroup.com]

CONTACT: Tel: +1 437-371-5730

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