Amaya Gaming Boasts Record High Third Quarter

Published November 18, 2014 by Arthur M

Amaya Gaming Boasts Record High Third Quarter

Canadian casino games developer Amaya Inc. has just posted record results, while there are rumours of a big purchase on the horizon.

Following their purchase of PokerStars , the financial position of Canadian games developer Amaya Inc. has been transformed. A future bid for the bwin group is rumoured, although they may face competition with Playtech on this issue.

Amaya Financial Results

For both the nine- and three-month periods up to the end of September 2014, Amaya Inc. was able to report record earnings, largely on the back of the PokerStars purchase. Revenues in the third quarter of 2013 for example were CA$39 million, but by the same period of 2014, they had risen to CA$239 million, while net income has gone from CA$7 million to CA$70 million. Cash flow from operating activities rose from CA$7 million to CA$139 million, and diluted earnings per share went from 7 to 43 cents over the same periods.

These figures reflect the dramatic changes that PokerStars have brought to the company. PokerStars is by far the biggest online Poker operator, and along with their Full Tilt brand, nearly 90 million players are registered with them. The sites are still growing rapidly, having recently been launched in Spain, Italy and France, while Full Tilt has expanded its' casino site.

Amaya has agreed to divest itself of the Ongame B2B Poker and gaming platform service provider, selling it to the NYX Gaming Group of Sweden.

Further Growth Plans?

It has been confirmed that negotiations are underway for Amaya to purchase the company, with a source saying that ''The two groups still need to discuss many important details and there are some legislative details that still need to be looked into.'' There had been industry rumours for about a month, but the news broke on Wednesday 12th November, with bwin deciding to confirm that there were undisclosed ''interested parties.''

It has been reported that games developer Playtech is also looking to buy, fuelled by the fact that they have raised a $315 million war chest for expansion. shares were up some 12% on the news.

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