Saturday October 18,2014 : AMAYA REVEALS RATIONAL GROUP POKER NUMBERS
In a report on its acquisition of the Pokerstars and Full Tilt parent group, Amaya publishes some impressive numbers.
Because it was never a publicly-listed company the Rational Group, parent of Pokerstars and Full Tilt Poker, has in the past not been required to reveal its financial results, but new owner Amaya Gaming changed that this week with the publication of the company’s current half-year numbers as part of a report on the $4.9 billion acquisition deal.
Outstanding among these, given the decline in revenues reported by many other online poker providers, is the 15 percent increase in profit to $221 million that Rational was able to achieve in H1-2014, thanks to a 4 percent rise in revenues from Pokerstars and Full Tilt.
Amaya actually took over the Oldford Group, whose main asset is Rational, and the numbers show that the company generated revenues of $568 million in revenue during the half-year (H1-2013: $546 million).
Earlier disclosures by Oldford during the acquisition negotiations showed that the group recorded FY revenue of $976 million and $1.1 billion in 2012 and 2013 respectively, delivering adjusted FY earnings of $342 million and $420 million, with cash flow from operations of $267 million and $317 million respectively.
Amaya has other solid online gambling assets in its stable, which contribute to boost the overall group's H1-2014 revenues somewhere north of $700 million, with net income around the $275 million mark.