Amaya experienced a remarkable 2016, shattering their previous income benchmarks.
This Canadian gaming powerhouse, recognized for managing well-known platforms such as PokerStars and Full Tilt, announced a lucrative final quarter, concluding a period of expansion. They successfully attracted a multitude of new users while simultaneously streamlining operations and minimizing expenditures – a formula for triumph.
They had, in fact, alluded to this prosperity earlier in the year, projecting unprecedented financial achievements back in January.
In aggregate, their total revenue reached an impressive $1.15 billion, an 8% surge compared to the preceding year. They were particularly pleased to declare a 14% rise in their adjusted EBITDA, which settled at $524.1 million. Their post-tax earnings from continuing operations soared dramatically, escalating by an astounding 777% to hit $1.356 billion. Furthermore, their adjusted net income witnessed a robust 26% increase, reaching $3.667 billion.
The final quarter of the year, concluding on December 31st, saw Amaya’s revenue ascend by nearly 6%, hitting $310.4 million.
Amaya’s Chief Executive Officer, Rafi Ashkenazi, was understandably elated. He remarked on how their tactical adjustments to the poker environment and their customer acquisition endeavors were yielding substantial returns. They were observing authentic intrinsic growth in their primary poker enterprise, and their casino offerings were surpassing projections, even with minimal promotion. Moreover, they were continuing to develop their sports wagering division. Overall, it was a phenomenal year for Amaya.
Our firm is thriving! We’ve skillfully managed volatile currency valuations and reduced our financing costs, enabling us to settle outstanding obligations more rapidly. These achievements empower us to advance our four primary strategic objectives. We’re eager to capitalize on our 2016 triumphs and maintain the execution of our plan in 2017.”
Amaya’s robust results have prompted them to forecast earnings ranging from $1.2 billion to $1.26 billion in 2017. They also project adjusted EBITDA to land between $560 million and $580 million.
