Amaya Gaming Releases Top 2012 Q4 Results
Amaya Gaming, the leading Canadian online gambling group, released its financial results for the Q4 of last year, describing 2012 as "transformational" for the company.
The group reported an increase of 292% in revenues for the fourth quarter of 2012 compared to the same period in the previous year. For the year ending December 2012, revenues were recorded at $76.44 million - an increase of 316%.
These exceptional growth figures were a result of Amaya Gaming consolidating CryptoLogic's software licensing and hosted casino revenue, as well as the Ongame poker network's software licensing revenue.
Gross profit percentage for the last quarter of 2012 was 99% of revenues.
Major 2012 Highlights for Amaya Gaming
In its official year end 2012 financial figures announcement, Amaya Gaming also highlighted some of the company's achievements for the year, including:
- The signing of a MoU with Bally Technologies to integrate the Ongame Poker platform onto Bally's iGaming platform ahead of changes in the US online gambling market.
- The launch of some of its most popular online casino games into the Italian market through Microgame SpA service provider.
- The signing of a deal with Redbet Gaming to provide it with its top rated Ongame poker platform.
- The selection of SHFL Entertainment as its exclusive distributor for its online poker products in the United States for a period of 10 years.
- The signing of a deal with The Mohegan Sun Casino to provide it with its Ongame poker platform (which is accessible with PCs, Macs and mobile devices.)
- Being chosen as the TSX Venture Tech Stock of the Year and CEO David Baazov being picked to be TSX Venture Tech Executive of the Year.
Transformational Year for Amaya Gaming
Baazov said with the launch of the report of Amaya Gaming 2012 figures: "The past year has been transformational for Amaya. We expanded dramatically in Europe by increasing the licensee base of our subsidiaries Chartwell and Cryptologic, which we had acquired in 2011 and April, 2012 respectively. Cryptologic went from a net loss in the first half of 2012 to a significant contributor of income for Amaya by the end of 2012."
Looking ahead, Baazov said that Amaya was focused on extending its footprint, including through strategic partnerships in the US, where regulation of online gaming continues to evolve.
"Additionally, we expect to realize on synergies from our acquisitions of Ongame and Cadillac Jack, as we did with Cryptologic, including growing their respective customer bases in various jurisdictions," he added.
