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Amaya FY2016 Trading Update

TRADING UPDATE FROM AMAYA RELEASED
 
Pokerstars owner ups its revenue and earnings forecast for FY2016
 
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
 
Highlights include:
 
* Revenues of $1.153-1.158 billion, up from previously predicted $1.137-1.157 billion;
 
* Adjusted EBITDA of $521-526 million (previous forecast $510 million);
 
* Net Earnings of $364-374 million (previous estimate $334-354 million)...an improvement on FY 2015 final figures of $290 million.
 
Chief executive Rafi Ashkenazi rather bullishly commented:
 
“We anticipate that 2016 will be a record year of revenues for Amaya. We saw better than expected fourth quarter results from our casino offering, operational excellence program and a successful re-launch in Portugal, all while continuing to take an efficient and measured approach to marketing our product offerings.
 
“We built positive momentum in 2016 that accelerated throughout the year and which we believe was largely the result of the positive impact of our strategy to improve the poker ecosystem for recreational players and leverage our global competitive advantage in online poker to acquire new customers, cross-sell existing and new customers into our online casino and sportsbook offerings, and maximize the lifetime value of all of our customers.
 
“We expect to continue this momentum and execute on our strategy in 2017 despite anticipated further headwinds, including continued declines in the value of our customers’ local currencies against the US dollar, which has been significant over the past two years, and the previously announced potential cessation of our real-money online poker offering in Australia.
 
“We anticipate that certain operational initiatives, including the introduction of a new cross-vertical customer loyalty program, the potential expansion into new markets, our continued focus on achieving product parity in our online casino and sportsbook, and our operational excellence program, will help to both drive our business forward and mitigate these and future headwinds.”



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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