SBC News Voice of the Sports Betting Industry
Updating the market on its 2015 Q4 and full-year results, Toronto-listed operator Amaya Inc would declare 2015 group net losses of CAD $25.9 million (£14 million).
The operator which is currently subject to a management takeover bid by Chief Executive David Baazov, reported that its corporate earnings performance had been impacted by the decline of the Canadian $ against core product currencies.
Amaya governance noted that on a constant currency basis, the operator would have posted adjusted 2015 earnings of CAD $372 million.
Despite suffering currency impacts combined with further operational costs, Amaya governance detailed that it was pleased with its core metric performance, which saw it post improved group revenues of CAD $1.4 billion up 8% on 2014’s CAD $1.26 billion.
Amaya Inc 2015 – Performance Overview
CEO David Baazov was pleased that the company had been able to successfully implement the first stages of its diversification programme which saw the operator launch sports betting brand BetStars.com
Amaya further reported that it had been able to reduce its long-term debt from approximately US $3.1 billion to US $2.6 billion. The operator expects to pay debt interest for 2016 of US $173 million.
Amaya Chairman and CEO commented on corporate performance
“Throughout 2015 we successfully executed on our strategy of diversifying our operations while maintaining market dominance in poker”.
“Despite significant foreign exchange and product rollout challenges, we achieved positive growth on a constant currency basis and, through investments and initiatives that will continue through 2016, have laid the foundation for becoming a leader across multiple gaming verticals.”
