Canadian gaming giant Amaya, the parent company of the PokerStars and Full Tilt brands, has reported a huge rise in year-on-year revenue for the first quarter of 2015.
Amaya, which acquired Rational Group last year to take control of the leading online gaming brands, has been selling off its non-core assets in recent months.
Amaya revealed in a trading update today (Thursday) that the changes had led to a significant increase in adjusted profit, up to C$82.5 million (€62 million/$69 million) in Q1 of 2015 from C$1.3 million from the corresponding period last year.
Quarterly revenue rose to C$340.1 million, up from C$12.8 million, while PokerStars increased its market share of the online power market, based on cash game and tournament players, from 62 per cent to 66 per cent.
“We saw continued strength in our core consumer online gaming business in the first quarter,” chief executive David Baazov said.
In March, Amaya agreed to sell its slot machine and electronic bingo game provider Cadillac Jack to Apollo Global Management and last month the company spun off and listed its Diamond Game unit into a new entity called Innova Gaming Group.
Also in April, gaming solutions provider NYX Gaming Group entered into a share price agreement to acquire the entire issued share capital of Amaya Inc., a B2B business that comprises Amaya subsidiaries Chartwell Technology and CryptoLogic Limited.
