PokerStars’ parent company, Amaya, experienced a difficult 2015, posting a net loss of CA$25.9 million. This result marked a significant shift from the prior year, when they had achieved a profit of CA$125.2 million.
Despite this, the firm highlighted its adjusted net earnings, which presented a more optimistic view. Excluding factors such as interest payments and acquisition-related expenses, these figures actually rose by 18% to CA$372.2 million.
CEO David Baazov acknowledged the obstacles encountered throughout the year, particularly those stemming from currency fluctuations and the introduction of new products.
In spite of these difficulties, revenue expanded by 8% to reach CA$1.37 billion, while adjusted EBITDA, a crucial profitability indicator, surged by 11% to CA$586.9 million. Amaya emphasized that without the adverse effects of currency movements, their total revenue would have actually expanded by a more substantial 15%.
Over the course of the year, Amaya made strides in decreasing its considerable debt burden, reducing it from approximately US$31.6 billion to US$25.9 billion.
Examining the last quarter of 2015, Amaya recorded a net loss of CA$15.8 million, a sharp contrast to the CA$35.6 million profit observed in the corresponding period of the preceding year. Nevertheless, adjusted net earnings for the quarter demonstrated resilience, leaping by 27% to CA$111.3 million, driven by a 15% rise in revenue.
Amaya, a prominent digital entertainment corporation, announced robust quarterly financial performance, with income surging by 12% following modifications for exchange rate variations. The true standout was their internet gambling and wagering division, which witnessed income skyrocket to 17% of the overall, a significant increase from a mere 3% the prior year. Although online card playing still constitutes the majority of their income at 78%, it’s evident that Amaya is effectively broadening its portfolio.
Chief Executive David Baazov expressed satisfaction with the outcomes, emphasizing their dominance in card playing while acknowledging the remarkable expansion in emerging sectors. He stressed that these achievements were attained despite obstacles presented by currency valuations and the introduction of new products. Looking forward, Amaya anticipates sustained expansion in 2016, driven by ongoing investments and strategies across its diverse gaming verticals. They forecast a 14% year-on-year income rise for the initial two months of 2016, showcasing their belief in the company’s path. It appears Amaya is not satisfied with simply maintaining its status as a card playing titan and is proactively expanding its presence within the wider online gaming realm.