Canadian based internet betting software developer Amaya Gaming has posted its first quarter 2013 financial results, noting a loss of $7,440,841 for the period.
Key financial indicators for the first quarter were:
Revenues up 496% compared to the same period last year to CDN $38,053,247
EBITDA at CDN $10,264,017, up from CDN $532,402 from the same period last year
Expenses amounted to $34.37 million, up 358% from the same period last year
Commenting on his firm's results Amaya CEO David Baazov said, "We're extremely pleased with the substantial positive cash flow generated from our operations in the first quarter. This is a strong focus of Amaya's management team."
"Gaming jurisdictions are moving towards regulatory frameworks that are evolving to adapt to the convergence of both interactive and land-based gaming operations. We are well positioned to capitalize on this evolving regulatory framework due to our technology, regulatory status and strategic partnerships."