Toronto-listed online gaming group Amaya Inc has declared a strong start to 2017 as the company progresses on its product diversification strategy.
Updating the market on its Q1 2017 performance (period ending 31 March), Amaya governance would declare ‘all-metric’ growth across its core reporting benchmarks, as the company records $317 million in group revenues.
The operator reports that its online poker division grew approximately 1.1% during the period. Highlighting its diversification strategy Amaya governance notes that its online casino and sports betting divisions contributed circa 27% of group revenues (Poker = 69%).
Closing the period Amaya would declare a group adjusted EBITDA of $151 million up 23% on corresponding 2016 performance. The firm’s improved revenue performance would see Amaya declare period net earnings of $65 million.
Rafi Ashkenazi, Chief Executive Officer of Amaya Inc commented on Q1 2017 performance
“We continued our momentum in the first quarter as we execute on our strategy and reinforce the foundation for sustainable and diversified revenue growth, including through the strengthening of our core management team and operations,”
“Our company also continues to evolve through corporate initiatives to deliver the greatest value for our shareholders.”
Ashkenazi further informed investors that the company is in the final stages of its executive search in finding a replacement of outgoing CFO Daniel Sebag. The company will issue a corporate update in the coming days.