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Amaya Revenues Soar in First Quarter

Canadian betting giant Amaya Gaming has released their first quarter financial results, noting that revenues have soared due to the company's purchase of the Rational Group, which oversees PokerStars and Full Tilt.

Amaya has been selling off many of its smaller properties in recent month, generating big cash gains for the company. The group recently parted ways with Cryptologic, Cadillac Jack, Chartwell Technology and Diamond Game.

Corporate highlights for the quarter were:

  • Quarterly revenue rose to Cdn$340.1 million up from Cdn$12.8 million during the same period last year

  • Net earnings from continuing operations came to Cdn$22.7 million

  • Adjusted profit of Cdn$82.5 million

  • Online poker made up 94% of the company's revenues, but other operations were up 75% at the end of the quarter

The company expects that its new casino and sportsbetting products will provide 13% of all revenue this year. Amaya is also teasing major developments in the sportsbetiting sector later this year, leaving us all guessing what the news could be.

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