Amaya Expects Record 2016 Earnings

Publish: 25.01.2017

Canadian gambling company Amaya – the owner of the PokerStars brand and different online gaming sites – predicts that 2016 financial reports will yield record revenues for the firm.

Raised Estimates

Amaya has raised the estimations related to fiscal year 2016 by adjusting the net earnings by around 6%, which comes as a result of the increased revenue from casino games and a successful Portugal relaunch.

Company’s CEO Rafi Ashkenazi published a statement anticipating a record year for Amaya, citing slightly improved fourth-quarter results than expected.

The morning trading offered clear backing for Amaya’s predictions as the company’s stock went up 3.16% at $18.30.

Revenues Up by $10 million

Amaya’s original full-year net earnings estimate predicted between $344 and $354 million, whereas the current predictions are expecting a $10 million rise to somewhere in the region of $365 and $375 million.

In addition, the company expects the adjusted EBITDA will go well above the previously expected $510 million to new projections of $520 million.

Amaya claims positive and increased fiscal projections are largely a result of the company’s continued strategy with the particular focus on improving the poker environment for recreational and casual players. Leveraging the global competitive advantage in online poker has helped the company acquire new customer and maximise the lifetime value of all customers across all offers.

Rising Trend

The ongoing strategy is expected to yield continuous improvements and better-than-anticipated results.

Amaya is planning to introduce a new cross-vertical customer loyalty program which is expected to have a huge impact on continuing the momentum. The company also expects the potential expansion into new markets which would also drive the business forward.

The Canadian gambling company is expected to announce the exact date and time when its full 2016 fiscal report will be revealed. Related conference call and webcast details will follow the fiscal report on an event planned for early March.