Amaya highlights investment and initiatives as finances rise

15 March 2016

Amaya has cited the ongoing impact of its various investments and initiatives as the main reason behind widespread year-on-year financial growth during the 12 months through to December 31, 2015.

Full-year revenue totalled Can$1.4 billion (€852.7 million/US$947.7 million), which represents an increase of 8% on the Can$1.3 billion posted in the previous year.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 11% year-on-year to Can$586.9 million, while adjusted net earnings also increased by 18% to Can$372.2 million.

However, Amaya, which owns the PokerStars and Full Tilt online gaming brands, noted that net earnings from continuing operations fell 121% year-on-year from a positive figure of Can$125.2 million in 2014 to a loss of Can$25.9 million in the most recent 12-month period.

As a result, diluted earnings from continuing operations per common share fell 120% to negative Can$0.12, although adjusted net earnings per diluted share increased 15% year-on-year to a plus of Can$1.76.

David Baazov, chairman and chief executive of Amaya, who is in the middle of a takeover bid for the company, said: “Despite significant foreign exchange and product rollout challenges, we achieved positive growth on a constant currency basis and, through investments and initiatives that will continue through 2016, have laid the foundation for becoming a leader across multiple gaming verticals.”

Amaya also used the results announcement to update on its performance so far this year, with revenue for the first two months of 2016 coming in at US$189 million, 4% up on the same period last year.

Of this total figure, 75% was attributable to real-money online poker, with 21% generated by the company’s online casino and sportsbook operations.

Related article: Senior Amaya executives to join Baazov takeover effort