Amaya Gaming Revenues Soar 512% To $239m In Q3

Amaya Gaming acquired the Rational Group on August 1st, and a few months later has now released its results for the third quarter revealing a dramatic 512% increase in revenues to $239 million, compared to the $38.6 million generated in the same period a year earlier. The third quarter also saw the Montreal-based company’s adjusted net income soar by 900% to $70 million, from $6.8 million for Q3 2013, and commenting on the remarkable results, Amaya CEO David Baazov (photo) said:
“In these early days I could not be happier with the initial performance of the business and the professionalism and expertise of the PokerStars management team. They are implementing strategic plans that leverage exciting, innovative poker variants, new gaming verticals and the mobile platform to increase engagement and new consumer acquisition.”
Amongst some of the interesting details emerging from the third quarter through to the end of September was the fact more than 50% of new registrations came via mobile, over 50% of active PokerStars customers now play the sites poker variant called “Spin and Go’s” regularly, and that over 30% of “eligible poker players” at Full Tilt Poker have gambled on the site’s casino type games.
In addition, Baazov has announced that Amaya is currently developing a proprietary sports betting product which will complement its future roll out of casino games and is expected to make the “addressable market for casino and sportsbook.. around 45%-60% of the company’s poker market.”
Addressing concerns of PokerStars regulars that the site’s poker playing ecosystem will be diluted as a result of the roll out, Amaya Gaming has insisted these products will eventually benefit its poker players by driving up the site’s overall traffic.
When Amaya Gaming’s Q3 results were first announced a few day ago, the company’s shares price increased by 3% and as of today stocks are trading at $37.34 giving the company a market capitalization of $4.87 billion.
“The acquisition of PokerStars has transformed Amaya and delivered immediate value to our shareholders while setting the stage for additional future growth,” explained CEO David Baazov.