Canadian online gambling company Amaya Inc. reported on Monday its financial results for the quarter and the year ended December 31, 2015. Quarterly revenue increased 15% year-on-year to reach C$389.5 million. Full-year revenue amounted to C$1.4 billion, up 8% as compared to the C$1.3 billion posted for the previous year.
Amaya said that proceeds from real-money online poker operations accounted for 78% of the overall figure reported for the fourth quarter of 2015. Real-money online casino and sportsbook accounted for 17% of the total quarterly revenue. In comparison, online poker represented 93% of the revenue reported for the three months ended December 31, 2014. Online casino and sportsbook accounted for 3% of the figure posted.
Adjusted EBITDA totaled C$166.2 million in the fourth quarter of 2015, up 16% as compared to the C$143.8 million for the same period of 2014. Full-year adjusted EBITDA was up 11% to C$586.9 million.
Amaya reported net loss from continuing operations totaling C$15.8 million in the three months ended December 31, 2015. In comparison, net earnings of C$35.6 million were posted for the same period a year ago. Full-year net loss amounted to C$25.9 million compared to net earnings of C$125.2 million in 2014. The company attributed the loss to challenges related to product roll-out and the lower Canadian dollar during the reviewed periods.
Adjusted net earnings rose 27% in the fourth quarter of the year to reach C$111.3 million. Annual adjusted net earnings totaled C$372.2 million, up 18% as compared to the figure posted for the previous year.
The Canadian gaming giant revealed that during the fourth quarter of 2015, the number of aggregate customer registrations grew by 1.99 million to reach an approximate of 99 million by the end of the year.
Commenting on the company’s financial performance in 2015, Amaya Chairman and CEO David Baazov said that despite facing certain product roll-out and foreign exchange challenges, they managed to achieve a positive growth. Mr. Baazov added that they have also laid the foundations for turning into a leader “across multiple gaming verticals” through investments and related initiatives that are set to continue in 2016, as well.
The executive further noted that he still plans to announce a bid for the acquisition of the gambling company. Yet, he did not disclose when exactly he would make his offer. Mr. Baazov first announced his intentions to acquire Amaya’s outstanding shares at a price of C$21 per share, thus taking the gambling operator private, early in February.
