Canada’s famous gaming operator Amaya Inc. announced an impressive 519-percent increase in its total revenue for this year’s third quarter between July 1 and September 30 as well as an overall excellent financial performance for the first nine months of 2014. The results were ascribed to the company’s constant urge for improvement and its new acquisitions.
David Baazov, managing director of Amaya, shared with interviewers that the purchase of PokerStars was what “transformed” their B2C business, rapidly benefited its shareholders, and created prerequisites for further development. He also said that he was particularly pleased with the results the company posted and was really happy to be able to work with PokerStars’ excellent managers. “They are,” he stated “implementing strategic plans that leverage exciting, innovative poker variants, new gaming verticals and the mobile platform to increase engagement and new consumer acquisition.”
It is worth mentioning that currently Amaya is in possession of major poker brands such as PokerStars, Full Tilt, Asia Pacific Poker Tour, the European Poker Tour, and many more. They all form together the most influential poker-related business in the world and offer both professional and amateur poker players exciting online and live games and tournaments, giving them the opportunity to win impressive amounts of money. It would not be an exaggeration to claim that PokerStars and Full Tilt are the company’s most important acquisitions, since both platforms have more than 89 million players from all over the world. Another interesting fact is that major competitions are televised and are available to online viewers, as well. Amaya also provides gaming platforms to other companies.
The Canadian operator gained a total turnover of $238.96 million between July 1 and September 30. By comparison, the company acquired only $38.58 million in the third quarter of 2013. This drastic rise in revenue was mainly due to the acquisition of PokerStars and the consolidation of Diamond Game’s revenue.
The company’s total expenses amounted to $214.41 million. This time last year Amaya was reported on spending about $34.04 million during the third quarter. This rise in expenses was mainly attributed to the increase in general and administrative, as well as selling costs. They, on the other hand, were increased due to the amalgamation of Diamond Game and the B2C Business.
Net profits reached $26.42 million or rose to $0.16 per diluted share, to be more specific. This time last year, the company earned $1.64 million or $0.02 per share. What is more, the company’s earnings before interest, taxes, depreciation, and amortization were announced to be $108 million. Amaya’s CEOs shared that they expected the gaming operator’s EBITDA to add up to $265 – $285 million by the end of 2014. In comparison, last year’s EBITDA reached the modest $18 million.
The company can also boast of rise in its adjusted net income, amounting to $70 million, as opposed to $7 million in the third quarter of 2013.
All stated figures are in Canadian dollars.
