Amaya to target further growth

Adjusted net earnings jumped from US$ 3.7 million to US$ 12.5 million, while net income improved from a loss of US$ 11.4 million in Q2 of 2013 to a negative of US$ 2.9 million this year. The second-quarter results also helped boost Amaya’s performance in the first six months of the year.

Revenue for the first half of 2014 amounted to US$ 83.7 million, which is up from US$ 75.3 million in the same period last year. Adjusted EBITDA grew from US$ 27.7 million to US$ 29.8 million, while adjusted net earnings jumped from US$ 9.8 million last year to US$ 16.4 million in the past six months.

In addition, net income improved significantly from a loss of US$ 18.9 million in the first six months of 2013 to a positive figure of US$ 36.7 million this year. The news comes shortly after Amaya completed the acquisition of Rational Group, the operator of online poker brands PokerStars and Full Tilt Poker, in a deal worth US$ 4.9 billion.

David Baazov, chief executive officer of Amaya, said: “The second quarter was a transformative period for Amaya as we announced and completed well ahead of schedule our acquisition of PokerStars and Full Tilt Poker, which collectively hold a healthy majority of the market share in online poker.

“The worldwide recognition of the PokerStars and Full Tilt brands, bolstered by being the largest producer of live poker tours and events across the globe and producer of televised and online poker programming, also provides Rational with an enormous opportunity to take advantage of adjacency opportunities in online casino and sportsbook, in jurisdictions where they can be offered – while growing in new geographies.

“After reviewing progress in its new initiatives following our acquisition on August 1, we expect growth in 2014 in these initiatives, notably in online casino, as the company continues to develop its technology platforms up to its high standards and works with various regulators to certify its solution. The company is continuing to see growth in its core poker business and the outlook for its entry into new verticals and geographies is strong. We look forward to updating this outlook in our third-quarter financial results, the first quarter for which Rational will report under Amaya.