Takeovers Boost Amaya Figures

Server and network-based gaming company Amaya Gaming has posted a huge 154% year-on-year increase in revenue in the three-month period through to June 30 as a result of its acquisitions of online poker network Ongame and electronic machine and technology supplier Cadillac Jack.

Sales for the three-month period totalled $37.3 million (€28.2 million) in comparison with $14.5 million in the corresponding period of 2012 following the takeovers of the two companies in November 2012.

Revenue for the six-month period up to the end of June was $75.3 million, up from $20.9 million in the first half of 2012, with the acquisition of online casino games developer CryptoLogic in April 2012 also contributing towards the rapid increase.

Adjusted earnings before interest, tax, depreciation and amortisation was $10.2 million in the second quarter of 2013, or 27% of total revenue, compared to $2.1 million, or 14% of total revenue, in the second quarter of 2012.

The company cited foreign exchange costs and income taxes for generating a net loss of $11.4 million in the second quarter of 2013 versus $2.7 million in the same quarter of 2012.

“We’re quite pleased with the continued progress we made in the second quarter in our land-based, interactive, and lottery solutions,” Amaya’s president and chief executive officer David Baazov said.

“Cadillac Jack’s agreement with one of its largest customers in Mexico for an additional 890 gaming machines will increase our install base of revenue producing units in the country by close to 13% and almost 10% in North America.

“Within our interactive solutions, during the second quarter we continued to prepare ourselves to participate in real money online gaming in the United States including filing our application for a licence in New Jersey, a state which expects to launch regulated online poker and casino gaming late this year.”

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