Amaya posts good results after rebrand


Credits: REUTERS/Christinne Muschi

The Canadian operator Amaya surpassed its expectations during the first quarter of 2017.

Canada.- After announcing its plans to change its name and relocate to Toronto, Amaya Gaming reported that during the first quarter of 2017 the company reached better results than what it was initially expected.

The numbers that were released by the operator on Friday showed that revenue increased 10 percent annually to US$317 million from January to the end of March. Net earnings rise 18.5 percent to US$65.7 million, whilst adjusted earnings grew 22 percent to US$151 million. Online poker revenue also increased 1.1 percent during those three months, the first growth reported in nine months, even though the numbers remain almost flat. On the other hand, poker revenue fell 69 percent during the first quarter.

Moreover, casino and sports revenue increased 47 percent when combined to US$88 million. As reported earlier this month, the company wants to take advantage of its revenue growth during 2016’s fourth quarter of which 25.8 percent corresponded to casino and sportsbooks revenue as those related to poker decreased. Amaya has noted these sectors potential and have hired Robin Chhabra in order to give them a boost.

The company is also confident that the prohibition on sports betting within US borders, outside Nevada, is lifted. Vice President of Corporate Communications, Eric Hollreiser, said that Amaya is active in lobbying both at the federal and state level in order to alter online gambling laws.