Wednesday, 18 May 2016 16:40

Amaya Gaming's revenues increase by 6% to $288.7M in Q1 2016

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Amaya Gaming on May 16 announced its financial results for 2016's first quarter of 2016. The numbers showed a 6% increase in revenues to US$288.7 million from $272.29 million last year.

That figure was prevented from going up to 14% by unfavorable fluctuations in the Canadian dollar to the US dollar exchange rate, claimed the company.

Amaya Q1’s net earnings ($55.5 million) too rose by 138.5% as compared to last year.

Interim CEO Rafi Ashkenazi said:

“During the first quarter, we continued to execute on our growth plans despite unexpected challenges, including management changes and the ongoing strategic alternatives process. We attracted new customers to PokerStars, continued to introduce changes to improve the overall poker experience, expanded our online casino offering and continued to invest in our emerging online sportsbook.”

The company's business has witnessed a steady growth with last month's unaudited revenues estimated to around $96 million, an increase of 11% from a year earlier.

Out of that, 77% was accounted for by real-money online poker and 21% by online casino and sportsbook. The positive Q1 figures and April’s results made the markets very happy.

Amaya’s PokerStars product in New Jersey has already captured more than half the revenues of the state’s online poker market. The online poker giant entered New Jersey in March.

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