Canadian gaming provider Amaya Gaming has been boosted by the news that its recently acquired online poker brands, PokerStars and Full Tilt, experienced significant year-on-year revenue and net income growth during the first half of 2014.
Amaya reported that Oldford Group, the holding company of the poker brands’ previous owner Rational Group, posted revenue of $567.9 million (€445.1 million) in the first half of 2014, up from $545.9 million in the previous year.
Net income jumped from $189.9 million in the first half of 2014 to $218.4 million in H1 of this year while net cash from operating activities amounted to $246.4 million, up from $207 million last year.
Earlier this year, Amaya completed the acquisition of Rational Group in a deal worth $4.9 billion.
On a combined basis, Amaya and Oldford Group generated total revenue of $627 million and net income of $245.2 million in the first half of 2014.
David Baazov, chief executive officer of Amaya, said: “We’re very pleased with the performance of PokerStars and Full Tilt in 2014.
“The core poker business continued to grow during the first half of the year and recorded strong cash flow.”
Amaya also used the opportunity to issue an update on other business relating to Pokerstars and Full tilt.
In September, PokerStars launched a new poker variant called ‘Spin & Go’s’ to players on its global .com network, following the success of launches in Spain, France and Italy.
Meanwhile, the Spanish brand of PokerStars launched online casinos games in the form of roulette and blackjack, with slots also anticipated to launch in 2015.
In addition, PokerStars has also released the public beta of the site’s latest desktop software, PokerStars 7, on its .com, .eu and .es clients.
PokerStars also recently concluded the latest edition of its World Championship of Online Poker tournament, which saw a total of $61.9 million in prize money awarded to players throughout 66 events.
source : www.igamingbusiness.com
