Canadian online gambling operator Amaya Gaming plans to rebrand and relocate to Toronto after posting better than expected results in the first quarter of 2017.
Figures released Friday show Amaya’s revenue rising 10% year-on-year to US$317.3m in the first three months of 2017, while adjusted earnings shot up 22% to $151m and net earnings rose 18.5% to $65.7m, thanks in part to an $11.6m reduction in general and administrative expenses.
The parent company of PokerStars reported online poker revenue inching up 1.1% to $218.7m, the first such rise in three quarters. However, the poker numbers were flat in constant currency terms.
The company’s efforts to pivot away from its pure poker roots continue to pay off, as poker’s share of the overall revenue pie fell to 69% in Q1, down from 75% in the same period last year. Combined casino/sports revenue shot up 47% to $88.3m.
Amaya CEO Officially Steps Down Amaya Gaming, owner of the PokerStars platform, said Friday that former CEO David Baazov has resigned “from all positions” with the company. Baazov took a voluntary leave of absence from his positions as CEO and board chairman following insider trading charges that were made public in […]
Amaya CEO Got Kickbacks for Inside Information David Baazov, former CEO of Montreal online gaming firm Amaya, benefited from a kickback scheme in which he received payments in exchange for sharing privileged information about company acquisitions with friends and their families, Quebec's securities regulator alleges.
Amaya Gaming denies acquisition speculation iGaming Business - Gambling industry entertainment provider Amaya Gaming Group has denied that it is looking to acquire another company following a sharp increase in its share price.
According to the Financial Post Canadian newspaper, Amaya shares on the Toronto Stock Exchange jumped […]