Amaya Gaming Reports Significant Revenue Increase


04/14/2012
By Debra SaundersGoogle

Canada-based company Amaya Gaming, which provides governments with gaming products in the areas of integrity software, taxation, regulation, lottery, online casino games and top rated online casinos, has reported a substantial increase in revenue gains. Amaya’s products aim to ensure the integrity of the gaming network environment on all devices deployed within a given jurisdiction.

Amaya reported net earnings for the fourth quarter as $2.89 million, or 6 cents basic earnings per share, compared to a loss of $0.6 million, or 2 cents, in the previous year during the same period.

The company, which is headquartered in Montreal, has recently made moves to expand its customer base. Amaya recently acquired Chartwell Technologies, another Canadian firm that has already started to pay returns on the investment.

Amaya’s revenue in the fourth quarter of 2011 was $9.49 million. This represented year-over-year growth of 353% from revenue of $2.10 million in the fourth quarter of 2010, and sequential growth of 139% from revenue of $3.97 million in the third quarter of 2011.

David Baazov, President and Chief Executive Officer of the company said, “Amaya capped a breakthrough year with an outstanding fourth quarter. We tripled revenues in 2011 as contract wins turned into active deployments. This was the first year in which we gained real traction in the government solutions vertical and in the hospitality vertical we deployed a significant number of Mosino units, which will strengthen the recurring revenue stream.”

Baazov continued, “Looking ahead, we see additional opportunities in the public sector as more governments including several in North America are considering the expansion of regulated gaming activities in their jurisdictions. Even on the strength of the existing contracts we have already deployed or are in the process of implementing, we are very well positioned for continued rapid growth in 2012.”

 


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