In 2016, Amaya experienced a phenomenal year, establishing unprecedented revenue benchmarks.
The prominent Canadian gaming corporation witnessed substantial expansion due to a growing clientele and effective expense reduction strategies. This upward trajectory was apparent in their final quarter earnings, concluding a year projected to be exceptional.
Amaya, renowned for possessing online poker titans PokerStars and Full Tilt, observed total revenue reach $1.15 billion, an 8% surge compared to the preceding year. This resulted in a 14% increase in adjusted EBITDA, attaining $5.24 billion. Their net earnings from continuing operations also underwent a significant reversal, shifting from a $20 million deficit to a $135.6 million profit – an astounding 777% rise.
This triumph continued into the last quarter of 2016, with Amaya’s revenue ascending by almost 6% to hit $3.1 billion.
Chief Executive Officer Rafi Ashkenazi ascribed this achievement to favorable modifications within their poker offerings and client acquisition tactics, resulting in inherent growth. Furthermore, Amaya’s casino products surpassed projections, propelled by targeted promotional campaigns and cross-selling initiatives. Ashkenazi also emphasized the ongoing advancement of their sports wagering platform as a primary area of concentration.
It was a fantastic twelve months! The fluctuations in international money markets worked in our favor, allowing us to reduce expenses and settle outstanding balances more rapidly. This positions us well to pursue our primary objectives. We intend to maintain our momentum and anticipate that 2017 will be even more successful.”
Amaya is projecting significant achievements in the next year, estimating income between 1.2 and 1.26 billion dollars. They also foresee their earnings before taxes reaching between 560 and 580 million.
