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Amaya revenue shoots up following Oldford Group purchase

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Amaya
ider Amaya Gaming has reported revenue of CAD$340.1m for the first quarter of 2015.

The figure is up %2557 from CAD$12.8m, which Amaya has put down to “consolidating B2C revenue, primarily generated by PokerStars”, following its $4.9bn acquisition of the online operator’s owner Oldford Group in August.

Adjusted EBITDA totalled CAD$140.3m, up from CAD$1.9m, while net earnings from continuing operations went down 49% to CAD$22.7m.

Cash flows from operating activities amounted to CAD$79.3m

Amaya CEO David Baazov said in a press release: “We saw continued strength in our core consumer online gaming business in the first quarter with gross deposits at PokerStars increasing approximately 9% on a domestic currency basis and PokerStars estimating an increase in its share of the global online poker market.”

Meanwhile, Baazov said in a conference call that PokerStars is “on track” to launch in New Jersey in the third quarter of this year, following an announcement at its full year 2014 conference call that Amaya expected to receive the relevant approval in Q3.

Baazov refused to answer questions relating to the possibility of daily fantasy sports (DFS) acquisitions for Amaya, but reiterated that it plans to launch its DFS product by the start of the 2015 NFL regular season in September.

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