The Canadian gaming powerhouse, Amaya, recognized for its online poker platforms like PokerStars and Full Tilt, experienced a phenomenal 2016. They shattered their own revenue benchmarks, generating a substantial $1.15 billion, reflecting an 8% surge compared to the prior year. This accomplishment was driven by a powerful blend of enticing new participants and implementing stricter financial controls. Enhanced profitability was the primary objective, as their adjusted EBITDA ascended an impressive 14% to hit $5.24 billion. The corporation dramatically reversed its fortunes from the preceding year, converting a $20 million deficit into a $135.6 million gain. Amaya’s chief executive, Rafi Ashkenazi, credited this triumph to tactical adjustments in their poker offerings and a sharp emphasis on acquiring new players. He also emphasized the unexpectedly robust results of their online casino products, which profited from focused promotional activities and initiatives to transition existing poker players. Looking forward, Amaya appears well-positioned for sustained expansion as they broaden their footprint in the sports wagering market.
The robust results of the business enabled a mitigation of exchange rate volatility, a decrease in financing costs, and an accelerated settlement of outstanding deferred payments. Consequently, the focus remains on four key strategic objectives. Building upon the positive trajectory of the preceding year, the aim is to maintain the strategic implementation throughout the current year.
This positive performance underpins Amaya’s anticipation of revenue ranging from $1.2 billion to $1.26 billion in 2017, accompanied by projected adjusted EBITDA between $560 million and $580 million.
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