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Amaya Unveils Third Quarter Results

Montreal based Amaya Gaming Group, Inc. has released its financial results for the period ending September 30th.

Amaya CEO David Baazov spoke of his company's performance saying, "Our business has shown very strong momentum in recent months. The long-term agreements we have announced with governments in Moldova and Armenia have the potential to become our two largest contracts to date once the initiatives are fully implemented. We also launched new recurring revenue gaming solutions in Kenya and Uganda."

Operational highlights included:

  • $3.97 million CDN in revenues for the third quarter, up from $1.46 million CDN during the same period last year.

  • Through the third quarter for the year, revenues were $8.89 million CDN, up from $3.95 million CDN during the same period last year.

  • Gross profit was 96% for the first nine months of the year, compared to 81% for the same period last year.

  • The company recorded a net loss of $1.82 million CDN during the quarter compared to the same period last year.

  • Year to date the company has seen a loss of $4.74 million CDN.

Operational highlights included:

  • Inking an exclusive, 20-year contract with the National Lottery of Moldova to provide a full range of gaming solutions including lottery systems, video lottery terminals, sports betting, and digital gaming. The contract has the potential to generate recurring revenues in excess of Cdn$ 20 million annually.

  • The launch of the Kwachu 6/48 Lottery in the Republic of Kenya, and the launch of the Kenyan government's official online gambling website, BetKenya.com, powered by Chartwell Technology.

  • The deployment of over 1,900 Mosino hospitality entertainment systems during the third quarter, bringing the worldwide total to 2,300, with an order backlog of 500 in progress.

  • Licence amendments by Chartwell in its contract with ShuffleMaster, allowing Chartwell the rights to offer Shuffle Master's popular Three Card Poker game to legal regulated online operators in the British Isles, including the United Kingdom , the Republic of Ireland , the Isle of Man, and the Channel Islands.

  • The launch of the YoolaObukadde, or "Win Millions", its Short Message Service ("SMS") game in Uganda.

  • A 10-year contract with the government of the Republic of Armenia to implement a national lottery program and to provide its central reporting and integrity software solutions.

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