Amaya Gaming claims ‘strong’ revenue growth in Q1

16 May 2014

Gambling industry entertainment solutions provider Amaya Gaming Group has cited the impact of its installed base and new sales of gaming machines in the US and Latin America as the main reason behind ‘strong’ year-on-year revenue growth during the three month to March 31, 2103.

The company posted revenue of CAN$41.2 million (€27.6 million/$37.9 million) in the first quarter, up from CAN$38.1 million in the corresponding period last year.

Adjusted earnings before interest, tax, depreciation and amortisation increased from CAN$12 million in Q1 of 2013 to CAN$41.9 million during the quarter while net income jumped from a loss of CAN$7.4 million last year to a positive of CAN$39.6 million.

Despite the largely positive results, adjusted net earnings fell from CAN$3.8 million in the first quarter of 2013 to CAN$3.3 million in the most recent period.

David Baazov, president and chief executive officer of Amaya Gaming, said: “We are very pleased with the progression of our business in the first quarter of 2014.

“We recorded strong year-over-year growth in revenues from our land-based solutions, through both our installed base of recurring revenue generating leased machines and via sales of gaming machines in the United States and Latin America.

“To increase our market share within existing customers and to attract new customers, we have also been actively developing new and innovative online and mobile games content through our proprietary games studios.

“We expect to roll out more games in the second quarter including multiple mobile slots.”

Under this strategy, Amaya Gaming has recently announced the launch of its latest interactive slots game in the form of ‘The Zombies’.

Featuring 3D graphics, the new 50-line slot marks the debut of Amaya’s new ‘Pick a Spin’ feature where players control their own game volatility on-the-fly.

Amaya Gaming also confirmed it is in the process of developing more DC Comics branded games under its licensing agreement with Warner Bros. Titles featuring Superman and Wonder Woman are expected to launch later this year.

Related article: Amaya below expectations despite doubling revenue in 2013