Amaya Inc. released its Q1 2016 earnings report and although not all the units showed growth, the business was not negatively affected by the accusations.
Canada.- Amaya Inc. released its Q1 2016 earnings report, which showed that former CEO David Baazov’s accusations did not affect the Canadian firm’s results significantly.
In Q1 2015, the company brought in US$16.4 million in non-poker revenue whilst during Q1 this year, the company generated US$60.1 million, showing an increase of 267 percent. The company brought in a combined total worldwide for poker of US$242.8 million in Q1 2015, making this year’s numbers an 11 percent decrease year-to-year. Overall, the online casino operator accumulated US$288.7 million in revenue the first part of 2016 with poker accounting for only 75 percent of that total.
Amaya-owned PokerStars and Full Tilt’s decrease in online poker revenue during Q1 2016 was unexpected after a promising start for PokerStarsNJ, the firm’s first reentry into the US market since Black Friday in April 2011. Amaya raked in US$216.4 million for its poker sites during the first quarter of 2016. However, in 2015’s same period, the company brought in a combined total for poker of US$242.8 million. Amaya explained that the reason for the decline in poker revenue had to do with customers depositing less money, Full Tilt becoming less popular (and recently being shut down) and online gamblers being more interested in other casino games.
However, even though overall Q1 poker revenues declined from 2015’s figures, the same can’t be said about April. Amaya generated US$73.6 million last month, which is merely US$100,000 less than the same month last year.
Overall, Amaya’s revenues in April 2016 increased 11 percent year-on-year. The company has faced criticism in recent months due to former CEO David Baazov’s alleged insider trading charges, but these numbers prove that the business was not significantly undermined by the scandal.