Montreal based internet gaming software developer Amaya Gaming has posted its third quarter financial report, noting record setting revenues and a huge jump in EBITDA for the time period.
Key financial indicators for the period ending September 30th were:
Revenues of CAD$ 18.3 million (3Q/2011: CAD$ 3.97 million), up 360%.
Gross profit of CAD$ 18.26 million, representing 99% of revenues, (3Q/2011: CAD$ 3.8 million)
Adjusted EBITDA CAD$ 5.9 million (3Q/2011: CAD$ 900,107)
Net earnings CAD$ 881,451 (3Q/2011: loss of CAD$ 1.8 million)
Financial results for the first nine months of 2012 were:
Revenues of CAD$ 39.2 million (9M/2011: CAD$ 8.8 million), up 341%
Adjusted EBITDA CAD$ 6.3 million (9M/2011: loss CAD$ 3.5 million)
Net earnings loss of CAD$ 6.4 million (9M/2011: loss of CAD$ 4.7 million)
Commenting on the results, Amaya Gaming Group President and CEO David Baazov said: "We were very pleased with the organic growth of our revenues in the third quarter over the second quarter, which was primarily due to the growth of the licensee bases in Europe of our subsidiaries CryptoLogic and Chartwell.”