Amaya revenues quadruple in third quarter
Impact of newly acquired Ongame and Cadillac Jack will be seen for first time in Q4.
Canadian software provider Amaya Gaming has seen its third-quarter revenues more than quadruple year-on-year, the company has announced in its financial results for the three months ended 30 September.
In addition to recording CA$18.3m in revenues, up from just under $4m in Q3 2011, the Toronto-listed business saw EBITDA come in at $5.9m compared to an EBITDA loss of $900,000 for the corresponding period last year.
The figures do not take into account the financial impact of online poker network Ongame and gaming machines supplier Cadillac Jack, with Amaya closing the respective acquisitions of the two businesses in November.
Ongame was acquired from bwin.party for an initial 15m, while the Cadillac Jack acquisition – first announced in late September – was also completed this month. Consequently the impact of both will be seen for the first time in Q4.
A number of leading operators signed agreements with CryptoLogic towards the end of the second quarter, including Betsson and Ladbrokes, and the financial impact of these deals was realised in Q3.
The third-quarter growth came predominantly from an increase in the customer bases of Chartwell and CryptoLogic, both acquired by Amaya in 2011, although chief executive David Baazov said: “We’re also extremely excited about our recent acquisitions of Cadillac Jack and Ongame.
“Cadillac Jack provides Amaya with an important presence in the United States and the ability to offer physical, virtual, and mobile gaming solutions to our customer base, which addresses a growing trend toward convergence in our industry,” added Baazov, who noted that the Ongame acquisition “…positions us to participate in the U.S. market as the regulation of online poker evolves.”
Amaya has already announced its first deal involving Ongame, with the Connecticut-based Mohegan Sun casino choosing its software for a freeplay poker offering which will launch early next year.
Meanwhile in Europe, Amaya made its first entrance into Belgium in Q3, agreeing a deal with Circus Groupe subsidiary Circus Services SPRL to provide a selection of games to its Belgian-licensed site casino777.be.