Consolidation Sparks Growth for Amaya

Consolidation Sparks Growth for Amaya

Amaya Gaming Group Incorporated has announced its financial results for the first quarter of 2013 showing a 496 percent year-on-year rise in total revenues to CAD$38.05 million ($36.73 million).


The Montreal-based company purchased Ongame Network Limited from bwin.party Digital Entertainment in October for approximately $19.42 million while November saw it pay $167 million in order to take control of electronic machine and technology supplier Cadillac Jack.

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Amaya stated that its improvement in quarterly revenues was “primarily attributable” to the consolidation of software licensing and hosted casino earnings from CryptoLogic Limited, which it acquired for approximately $29 million in early April, alongside similar gains from Ongame and Cadillac Jack.

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For the three months to the end of March, Amaya declared that adjusted earnings before interest, tax, depreciation and amortisation grew from a deficit of CAD$532,402 ($514,085) last year to a surplus of CAD$10.26 million ($9.91 million) although its net loss for the period increased by just over 63 percent year-on-year to CAD$7.44 million ($7.18 million).

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For the full year to the end of December, Amaya Gaming predicted that overall revenues would total in the range of CAD$156 million ($150.6 million) to CAD$167 million ($161.3 million) while annual adjusted earnings before interest, tax, depreciation and amortisation are expected to fall between CAD$55 million ($53.12 million) to CAD$64 million ($61.81 million).

“We’re extremely pleased with the substantial positive cash flow generated from our operations in the first quarter,” said David Baazov, President and Chief Executive Officer of Amaya Gaming.

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