Amaya Reports Good First Quarter Results; David Baazov Will Not Seek Re-Election

Revenues, EBITDA, and net income are all on the rise for Amaya Inc., the owner of PokerStars, the world’s largest real-money online poker network, publicly released in its financial results for the first quarter of 2016.

Revenue for the group increased by a modest 6 percent from $272.3 million in the first quarter of 2015 to $288.7 million in the most recent quarter. The group notes that the increase in revenue would have been an even healthier 13.9 percent if not for adverse changes in foreign exchange rates.

While the revenue mix remains dominated by online poker, the figures show that Amaya is making inroads in other verticals as well. During the first quarter of 2016, 75 percent of the group’s revenues related to online poker, with another 21 percent coming from casino and sports-wagering verticals when compared to 89 percent and 6 percent during the same period a year ago.

This also implies that while total revenue increased, this was due to huge strides in online casino and sports-wagering verticals offset by a revenue decline in online poker.

EBITDA, which many analysts believe define the healthiness of a company’s ongoing operations, also increased in a similar ratio to that of revenue. Revenue hiked up to $123.4 million in the first quarter of 2016 representing an 8.7-percent increase from the $113.5 million reported in the same quarter in 2015.

Since EBITDA does not account for interest, taxes, depreciation, or amortization, it is also …

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