Pleasing Q1 Results for Amaya Gaming
Canadian based gambling giant, Amaya Gaming, has posted very pleasing first quarter numbers, showing growth across the board.
Revenues for the fourth quarter of last year were reported to be $38.05 million, compared to the first quarter of 2012 when revenues were $6.38 million.
Amaya Gaming explained that the significant revenue increase was due to the consolidation of software licenses and hosted casino revenue of Cryptologic (acquired in April 2012), the consolidation of software licensing revenue from Ongame Network Ltd. (acquired November 2012) and the consolidation of participation agreement revenue of Cadillac Jack, acquired in November last year.
Highlights in Amaya Gaming Financial Report
Some of the highlights reported by Amaya Gaming in its Q1 2013 report:
- Cash provided from operating activities for the first three months of 2013 was $7.48 million compared to $1.38 million for the same period the year before.
- The Amaya Gaming subsidiary Cadillac Jack entered into a multi year agreement with one of its largest customers in Mexico for 900 gaming units in 13 different locations.
- Amaya selected SHFL as its exclusive distributor for the Ongame Poker Platform in the US for a decade.
-
- Amaya signed a deal with Warner Bros. to extend its agreement to be an exclusive provider of DC Comics online casino games.
Amaya Pleased with Q1 Results
The President and Chief Executive Officer of Amaya Gaming, David Baazov said that he was extremely pleased with the substantial positive cash flow generated from the group's operations in the Amaya Gaming Q1 results.
"So far this year, we have expanded the reach of our interactive offering in the United States with the SHFL and Aristocrat partnerships, in addition to our relationship with Bally," he said. "Nevada, New Jersey and Delaware have recently legalized some forms of play to play online gaming, and reported 10 other US sates have considered some form of internet gambling this year.
"Gaming jurisdictions are moving towards regulatory frameworks that are evolving to adapt to the convergence of both interactive and land based gaming operations," continued Baazov. "We are well positioned to capitalize on this evolving regulatory framework due to our technology, regulatory status, and strategic partnerships."
