Taking a Look at the Financial Growth of Amaya Gaming
Amaya Gaming, also known as Amaya Incorporated, is a Canadian-based company with headquarters located in Montreal. Amaya specialises in the gaming and iGaming industries, particularly in the field of online poker gaming.
Since 2013, there has been huge financial growth for Amaya Gaming, as well as several new ventures and company acquisitions. A year later in 2014, the company purchased the parent company of Full Tilt Poker and PokerStars, which officially made Amaya the largest publicly listed online gaming company in the world.
Amaya’s 2013 Growth in Revenue
One of Amaya’s most successful years was during 2013. In this year, the company experienced substantial financial growth, and their third quarter figures reflected a growth of almost 120% in their year on year takings.
David Baazov, the CEO of Amaya Gaming, commented that the company’s third quarter in 2013 was immense as they took steps into the US online gaming market for the first time. He hinted that this move would be an opportunity for growth in Amaya’s online business, especially as real money online gaming from Amaya had just been successfully launched in New Jersey. He also estimated that Amaya would grow quickly in the US, which proved accurate in following years.
Acquisition of PokerStars and Full Tilt Poker
2014 saw Amaya Gaming taking over both PokerStars and Full Tilt Poker, a move which effectively boosted their revenues yet again. Amaya’s 2014 to 2015 period showed a revenue growth of 8%, with real money online poker constituting as much as 78% of these takings.
In this year, David Baazov again commented, saying that the company had diversified their operations while maintaining their market dominance in the poker industry. The year saw much positive growth for the company, and poker revenues continued to climb into the third quarter.
Amaya’s First Quarter Revenues in 2016
So far in 2016, huge financial growth for Amaya Gaming has again been on the table. In this year’s first quarter, the company experienced an 11% drop in their total revenues from online poker pursuits. However, their total revenue has continued to grow, climbing from $272.3 million to $288.7 million – a 6% year on year increase compared to the first quarter of 2015.
Amaya Gaming’s 2016 first quarter report states that the change in revenue experienced was due to the expansion of the company into new jurisdictions. Amaya also continued to roll out products on their PokerStars platform which added to their expenses, which included online slot games from third-party providers.
Amaya Gaming’s Future Endeavours
Amaya mentioned in the report that their total poker revenue came to $73.6 million in April alone, which was almost identical to takings from the same game in April of 2015. They also theorised that May’s profits are typically boosted by the Spring Championship of Online Poker festival held by PokerStars NZ betting, which they suspected would be the case during 2016’s second quarter as well.
According to the Interim Chief Executive Officer of Amaya, the company’s strategies going forward include attracting new players to PokerStars, introducing changes to the site to improve players’ overall poker experience, and expanding their online casino and online sportsbook offerings.