SBC News Voice of the Sports Betting Industry
The governance of Toronto TSX-listed Amaya Inc has this morning issued an update to the firm’s full-year 2016 guidance, adjusting upwards its top-line metrics for revenue and earnings results.
In its latest trading update, Amaya governance details that FY 2016 revenues will range between $1.153-1.158 billion, as compared to its previous guidance of $1.137-1.157 billion.
Further positives see Amaya governance give an adjusted EBITDA guidance range of $521-526 million, with the company confident of beating its previous 2016 EBITDA expectations of $510 million.
Once further costs and adjustments are made, Amaya governance expects to present a FY 2016 Net Earnings range of $364-374 million (previous estimate $334-354 million), surpassing FY 2015 corporate earnings of $290 million.
“We anticipate that 2016 will be a record year of revenues for Amaya,” commented Rafi Ashkenazi, Chief Executive Officer of Amaya Inc
“We also 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.
However, a pleased Ashkenazi detailed to Amaya investors that his firm would face likely 2017 financial headwinds due the strengthening of the US dollar against a number of international currencies. Countering these headwinds, Ashkenazi stated that Amaya would continue to strengthen its product diversity and customer loyalty programs.
“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.”
