The Toronto listed online gambling group, Amaya announced that its revenues reached record breaking levels in 2016. Total revenue for the PokerStars parent company spiked to $1.15 billion – up 8% compared to last year’s revenues.
Amaya’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) also rose significantly to $524.1 million, or an increase of 14%. The numbers confirm Amaya’s preliminary results announcement earlier this year that it expected to reach record levels in 2016.
The chief executive of Amaya, Rafi Ashkenazi said that the group’s proactive changes to the poker ecosystem, as well as customer acquisition initiatives, continued to reverse certain negative trends. “We are starting to see organic growth in that business,” he remarked. Ashkenazi also said that Amaya’s casino offering exceeded expectations as the group introduced limited marketing campaigns and focused on its cross-sell efforts. Major efforts were also made to continue to build and develop Amaya’s sportsbook brand.
“The strong performance of our business has helped us to reduce our currency risk, lower our interest expense, and accelerate the payment of the remaining amounts owed on our deferred payment obligation, all of which will allow us to continue pursuing our four strategic priorities,” noted the CEO.
Looking ahead, Amaya expects to continue its excellent momentum into 2017, and will execute on its strategy this year.
