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Amaya Gaming Posts Net Loss For 2013

Wednesday April 2,2014 :  AMAYA POSTS NET LOSS FOR 2013 BUT DOUBLES REVENUE
 
And announces content supply deal with Ultimate Gaming
 
Amaya Gaming Group said it was pleased with the development of the business in 2013, emphasising growth in its land-based business, the launch of interactive gaming products into the U.S. market and the acquisition of lottery solutions developer Diamond Game.
 
The company posted a Quarterly and Full Year net loss which it said was driven by a provision recorded in income taxes along with general and administrative expenses growing at a faster pace than revenues.
 
Key performance highlights for the fourth quarter and full year 2013 include:
 
Fourth Quarter 2013:
 
-   Revenue for the three month period ended December 31, 2013 was CAD $39.01 million (Q4/2012: CAD$37.19 million), a 5 percent increase.
 
-   Total expenses were CAD$45.97 million (Q4/2012: CAD$40.77 million).
 
-   Net loss was CAD$7.28 million, or CAD$(0.08) per basic and diluted common share (Q4/2012: -CAD$0.71 million).
 
 
Full Year 2013 for the period ending December 31:
 
-   Full year revenue amounted to CAD $154.53 million (FY2012: CAD $76.44 million), a 102 percent increase which it attributes to a full period of revenue reporting from CryptoLogic, Cadillac Jack and Ongame Network.
 
-   Total expenses were CAD$176.04 million (FY2012: CAD$87.43 million), up 101 percent due to a full period of expenses related to CryptoLogic, Ongame, Cadillac Jack and the company's entry into the U.S. real-money online gaming market.
 
-   Net loss of CAD$29.62 million, or $(0.33) per basic and diluted common share, (FY2012: -CAD$7.11 million) The increased loss was driven by the provision recorded in income taxes along with general and administrative expenses growing at a faster pace than revenues.
 
“Regarding our interactive gaming solutions, we increased the number of licensing agreements we have to supply online gaming operators in 2013,” David Baazov, president and chief executive officer of Amaya Gaming Group said. “In 2014, we will continue to look to expand the reach of customers using our Casino Gaming System as well as increase revenues from existing licensees through a strong focus on providing operators with new and innovative gaming content, mobile versions of popular games from our extensive library, and online and mobile versions of top performing games already on our land-based gaming machines.
 
“We will also examine potential transactions that will improve our solutions offering and position us to be a leader in the growing global iGaming market.”
 
In related news today, Amaya Gaming Group announced a licensing agreement with Fertitta Acquisitions Co, LLD’s Ultimate Gaming business for the provision of online casino gaming content for the New Jersey market.
 
ucasino.com (Ultimate Casino), operated by Ultimate Gaming for its licensed gaming partner Trump Taj Mahal Associates, LLC, in New Jersey, will offer a selection of Amaya's proprietary games through its Casino Gaming System (CGS) platform along with HTML5 game titles.
 
Around 70 of Amaya's proprietary games have been certified for real money play in New Jersey to date and include slots, video poker, table games, shared jackpots and branded titles.
 
The agreement allows for the potential integration of other gaming websites operated by Ultimate Gaming to CGS in the future.
 
"We are excited to provide Ultimate Casino's players with access to Amaya's leading selection of online casino content," said Ultimate Gaming Chief Executive Officer Tobin Prior. "Providing high quality, engaging and entertaining games from top content providers like Amaya is key to delivering the best possible experience to our players."
 
Amaya will receive a percentage of the aggregate net revenue generated on its games as well as a percentage of the aggregate net revenue generated on any third party games passed through the CGS.
 
"We're extremely pleased to add Ultimate Gaming to our growing list of licensees providing our online casino content for real money gaming in New Jersey," said David Baazov. "Having established a strong reach in the nascent U.S. market, we will be looking to increase our market share on our licensee's websites by providing new and innovative gaming content, an increasing selection of HTML5 games, and online and mobile versions of popular game titles that are currently on our land-based gaming machines."



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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