Wednesday, March 22, 2017

Amaya Gaming reports earning for 2016

Seeking Alpha:

(snip)

"2016 was a record year of revenues for Amaya," said Rafi Ashkenazi, Chief Executive Officer. "Our proactive changes to the poker ecosystem and customer acquisition initiatives continue to reverse certain negative trends and we are starting to see organic growth in that business, our casino offering exceeded expectations as we introduced limited marketing campaigns and focused on our cross-sell efforts, and we continued to build and develop our sportsbook.

"The strong performance of our business has helped us to reduce our currency risk, lower our interest expense, and accelerate the payment of the remaining amounts owed on our deferred payment obligation, all of which will allow us to continue pursuing our four strategic priorities. We expect to continue our 2016 momentum and execute on our strategy in 2017," noted Ashkenazi.

I am happy with these results. Although poker is not growing as in the past the online casino and sportsbook is rocking.

There are currently around seven states considering legalizing online poker and or gaming. If these states move to legalizing online gaming Amaya is well positioned to capture the majority of market share.

No comments:

Related Posts Plugin for WordPress, Blogger...