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Amaya Gaming Reveals Positive First Half Results

Canadian wagering software company the Amaya Gaming Group has released its fiscal results for the first half of 2012, highlighting a huge jump in revenues among other positive numbers.

Key financial indicators for the period ending June 30th, were:

  • Revenue growth of 285% to CDN $14.548 million, up from CDN $3.77 million during the same period of 2011.

  • EBITDA was CDN $1.17 million, up from a loss of CDN $471,952 during the same period last year.

  • Gross profit was CDN $14.08 million for the quarter, representing 97% of the company's total revenues

  • Net earnings show a loss of CDN $2.72 million for the quarter and CDN $7.28 million for the year

  • The company holds cash and cash equivalents of CDN $109.24 million

  • Long term debts stand at CDN $26.19 million of convertible debentures and CDN $580,000 of subordinated debt

Operational highlights for the period were:

  • Over 800 Mosino gaming terminals deployed during the second quarter, bringing the worldwide total to over 4,660 units.

  • Amaya and CryptoLogic announced contract extensions or expanded relationships with four customers.

  • Ladbrokes will launch at least 10 of CryptoLogic's award winning casino games to join the two games that went live under the previous deal.

  • BetClic Everest Group will launch a minimum of eight CryptoLogic casino slot games, to be available on such brands as Everest Casino.com, Imperial Casino.com and Casino Elegance.com.

  • Betsson Malta Ltd. will have access to a portfolio of more than 100 of CryptoLogic's most popular casino games through CryptoLogic's Instant Click platform, and the right to launch any new CryptoLogic content going forward.

  • A deal with Belgium's Circus Services SPRL, under which Amaya will supply its proprietary and branded games on the Amaya platform to the Casino 777.be website, one of Belgium's first regulated online gaming sites.

  • Three new games launched by Cryptologic: Fire Flies, Captain Nemo, and Monte Cristo, the latter the industry's first game combining the features of a casino and casual game.

  • Amaya raised gross proceeds of Cdn$ 107,408,430 in a private placement totaling 26,520,400 common shares issued at a price of Cdn$ 4.05.

  • CryptoLogic shares were delisted from the Toronto Stock Exchange.

Commenting on the results, Amaya CEO David Baazov said: "We continue to deliver very strong revenue growth achieved both organically and through acquisition."

"The successful implementation of our growth strategy has led to a larger and more diversified customer base, as well as a more comprehensive product offering that improves our competitive position. Our recently completed financing provides us the resources to continue to execute and pursue some significant opportunities available in our industry."

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