Gaming company Amaya Gaming has cited the impact of growth across its core B2C poker business as the driving force behind its record financial results in 2014.
Full-year revenue at the company amounted to $668.2 million (€622.3 million), which represents huge year-on-year growth in comparison with the $145.9 million posted in the previous year.
Adjusted earnings before tax, depreciation and amortisation (EBITDA) was up from $62.6 million in 2013 to $292.7 million in the past 12 months.
Elsewhere, adjusted net earnings increased to $145 million while net earnings from continuing operations improved from a loss of $4.8 million in the previous year to a positive figure of $57.2 million in 2014.
Amaya also noted that its record full-year results were boosted by significant expansion during the fourth quarter of the year.
During the three months to December 31, revenue jumped from $37.1 million in Q4 of 2013 to an impressive $368.6 million this year.
Adjusted EBITDA was up from $16.7 million to $154.7 million, while adjusted net earnings increased to $85.7 million.
However, Amaya did record a drop in net earnings from continuing operations, posting a loss of $7.5 million compared to a negative figure of $523,000 in the corresponding quarter last year.
Results in the full-year and fourth quarter were undoubtedly given a major boost by Amaya’s acquisition of Rational Group and its PokerStars and Full Tilt online poker brands.
With this deal seemingly paying off, Amaya chairman and chief executive officer David Baazov said the company will now pursue further growth in 2015, estimating that revenue this year could surpass $1 billion.
“Going forward, Amaya intends to acquire new customers and gain online gaming market share through the continued expansion of the B2C business in other verticals, including sports betting, casino, social gaming and daily fantasy sports, which we expect will supplement our current growth plans for our core poker business,” Baazov said.
“Amaya currently anticipates executing on this strategic direction through both organic development and strategic M&A.
“As our B2C business is Amaya’s core growth platform, we have initiated a process to identify opportunities to divest our B2B assets, with the aim of facilitating their future growth and maximising value for Amaya shareholders.
“Our recent announcements about the planned divestiture of Cadillac Jack and spinoff of Diamond Game is in line with this strategy, and we anticipate providing updates on plans for our other B2B assets in the near future.”
source : www.igamingbusiness.com
