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Amaya Gaming Posts Full Year Results

Canadian betting firm Amaya Gaming has published their latest financial results, noting a large grown in profits and quarterly revenue for both the fourth quarter and full year of 2014.

Key financial indicators for the fourth quarter and full year 2014 were:

  • Adjusted profits up at Cdn$85.7 million (Cdn$67 million), or 42 Canadian cents per share, in the fourth quarter ended December 31, from Cdn$11.1 million, or 12 Canadian cents per share, a year earlier;

  • Quarterly revenue was up almost 10 times to Cdn$368.6 million, driven by record growth across its core B2C poker business;

  • Full-year revenue came in at Cdn$668.2 million - very substantial growth year-on-year when compared to the corresponding period in 2013 when the company recorded Cdn$145.9 million;

  • Adjusted FY EBITDA of Cdn$292.7 million (FY 2013: Cdn$62.6 million);

  • Adjusted earnings of Cdn$154.6 million, up from Cdn$16.7 million;

  • Sales and marketing costs massively increased from 2013's Cdn$2.8 million to Cdn$63 million in 2014;

  • In the UK, the company anticipates that the impact of point of consumption tax is likely to be Cdn$45 million in 2015;

  • Plans well advanced to launch full suites of online casino games at Full Tilt and Pokerstars before mid-year;

  • Amaya hopes to achieve licensed status in New Jersey within the next few months, and continues to lobby for regulated online poker in Pennsylvania and California.

  • Estimated revenues for 2015 could significantly exceed Cdn$1 billion.

In a trading update with shareholders Amaya revealed that it plans to cash in its recent poker acquisition of the Rational Group (owners of Full Tilt and PokerStars) by bringing casino games and sportsbetting to the products. "We anticipate the launch of sports betting in certain markets in the coming days with an expansion across the network to take place through the first half of 2015," company CEO David Baazov said.

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