The Canadian gaming and online gaming operator Amaya Inc. published its fourth quarter and full-year results for 2016, as well as a 2017 update and a full-year guidance.
The Chief Executive Officer of the company Rafi Ashkenazi commented, describing the year 2016 as a record year of revenues for the Canadian operator. According to Mr. Ashkenazi, the changes implemented in the poker field and the customer acquisition initiatives were still offsetting the impact of some negative trends and heled the company generate organic growth in the business.
Amaya’s boss commented that the company performed well in 2016, which helped the operator decrease its interest expense, minimise currency risk and accelerate certain payments. This, on the other hand, would allow the operator to continue following its major strategic priorities, said Mr. Ashkenazi.
Amaya revealed its results over the last fiscal quarter of 2016, saying its revenue experienced a 5.9% increase taking it from $293.20 million over the same quarter a year earlier to $310.43 million in the last three months of 2016. The company’s adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) rose by 17.8%, reaching $147.6 million in the last quarter of 2016.
As revealed by the Canadian gambling giant, its net earnings from continuing operations rose to a record high, soaring by 395.8% from a 15.22 million net loss to earnings of $45.04 million. There was a 30% increase in the adjusted net earnings of the brand, which reached $107.01 million over the last fiscal quarter.
As for the full-year results, the company also had an excellent performance over the 12-month period ended on December 31st, 2016. The total revenue of Amaya Inc. for the year 2016 rose by 7.8% from 1.072 billion in 2015 to $1.156 billion. Its adjusted EBITDA also increased, rising by 14.1% to $524.09 million.
A mind-blowing increase estimated to 777.1% was registered by the company in its net earnings from continuing operations. The latter swung from a net loss of $20.01 million in 2015 to net earnings of $135.55 million in 2016. The adjusted net earnings of the company rose by 26.1% from $290.80 million over the previous year period to $366.69 million at the end of 2016.
Amaya Inc. also presented its 2017 performance update, as well as a full-year projection for the current fiscal year. Over the first two months of the year, the gambling giant estimated its unaudited overall revenues would amount to approximately $215.3 million, which represented a 13.3% increase in comparison to the same period a year earlier. As far as the full-year guidance is concerned, Amaya revealed its expectations for overall revenues in the range from $1.200 to $1.260 million, as well as adjusted EBITDA estimate of between $560 million and $580 million. The company projected that its adjusted net earnings would amount to a range between $400 and $430 million.