Amaya Gaming Earnings Report a Tale of Good News, Bad News
Amaya Gaming released its Q4 earnings report this week and, despite some pretty big losses, the future looks very bright for the Canadian igaming giant.
On the bright side of the report Amaya Gaming clocked in revenue of $368.6 million ($291.57 million USD) that’s a whopping ten-fold increase over the previous year, which was a mere $37 million. Much of that growth stems from Amaya’s blockbuster purchase of the Rationale Group, operators of Full Tilt Poker and Poker Stars, last year for $4.9 billion.
All that new revenue translated into earning for Amaya Gaming shareholders to the tune of $.42 ($.33 USD) per share. That’s up from a $.12/per share dividend last year at this time.
On the down side of the report were losses on a fairly large scale. According to the Globe and Mail, Amaya clocked in a net loss of $26.7 million ($21.2 million USD).
Amaya Gaming also reported plans to sell off its Cadillac Jack subsidiary for $476 million ($375 million USD) to the Apollo Global Management. Cadillac Jack is a maker of electronic slot machines and bingo equipment.
Riding on the wave of big numbers, Amaya has big plans for expansion throughout 2015. In a statement to the press, Company CEO David Baazov said:
We anticipate the launch of sports betting in certain markets in the coming days with an expansion across the network to take place through the first half of 2015
The company is also planning additional, as-yet-unnamed, acquisitions to further boost its bottom line.
No matter what the next few quarters bring for Amaya Gaming, judging by this week’s report, the numbers that come out each quarter are certain to be huge.