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Amaya Posts Strong First Quarter Financials

Canadian betting giant Amaya Gaming has released its first quarter 2014 financial results, noting strong growth in revenues, although adjusted net earnings are down from last year.

Key financial indicators for the quarter ending March 31st, 2014 were:

  • Revenue of Cdn$41.2 million up from Cdn$38.1 million in Q1-2013.

  • Net income improved from a loss of Cdn$7.4 million in Q1-2013 to a positive Cdn$39.6 million in Q1-2014.

  • EBITDA at Cdn$41.9 million well up on Q1-2013's Cdn$12 million.

Commenting on his company's performance Amaya CEO David Baazov said that the group is looking to attract new customers through new games and focusing on mobile content with its partner studios. “We expect to roll out more games in the second quarter including multiple mobile slots,” Baazov noted.