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Amaya Gaming Posts First Quarter Losses

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."

"So far this year, we have expanded the reach of our interactive offering in the United States with the SHFL and Aristocrat partnerships, in addition to our relationship with Bally."

"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."

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