Amaya revenues treble in 2012 results
Revenues rise by 292% to CA$76.44m following a flurry of acquisitions over the past two years
A series of licensing deals and acquisitions has helped Amaya Gaming record strong revenue growth in its fourth-quarter and full-year results for 2012.
Revenues for Q4 increased from CA$9.49m to $37.19m, a 292% year-on-year increase, with adjusted EBITDA for the same period rising from $3.41m to $16.75m. EBITDA for the full year rose to $23.1m following a loss of $57,311 in 2011.
However Amaya posted a $7.11m net loss for the full year, due to an increase in staff from the Ongame, CryptoLogic and Cadillac Jack acquisitions coupled with other fees such as amortisation costs and employee contract terminations ramping up expenditure.
Amaya CEO and president David Baazov described 2012 as “transformational” for the business, picking out the performance of Chartwell, CryptoLogic and gaming machine supplier Cadillac Jack, which he said gave Amaya “an important presence in the United States”.
And he pointed to the recent regulation in New Jersey as an opportunity for further growth in the future, as well as the chance to further grow Ongame and Cadillac Jack’s customer bases in multiple jurisdictions.
“We now have the technology to address the growing trend toward convergence in our industry, with operators increasingly looking to offer physical, virtual, and mobile gaming products and experiences to their customers,” he added.
Amaya’s revenues for 2012 increased to $76.44m from $18.38m in 2011, a 316% rise, attributable in large part to a consolidation of revenues from Cadillac Jack and CryptoLogic. A number of operators signed agreements with CryptoLogic last year, including Betsson and Ladbrokes, significantly growing its customer base.
Amaya has continued to secure B2B deals since the fourth quarter, including freeplay poker deals for Ongame with American Casino & Entertainment Properties (ACEP) in Nevada and Mohegan Sun in Connecticut. A range of Amaya’s slots also went live in Italy last month through Microgame.
Meanwhile Amaya has named Paul Leggett, former chief operating officer of Ultimate Bet owner Tokwiro Enterprises, as its head of online, overseeing the Ongame poker network and its other online gaming brands. He takes over the responsibilities of Peter Bertilsson, former managing director of Ongame Services, who remains within Amaya in a consultancy role.