July 8th Poker news ... Poker Gamewinning at pokergamewinning.com
SPECTACULAR YEAR FOR AMAYA GAMING
Montreal-based and Toronto-listed online gambling group Amaya Gaming captured mainstream headlines Tuesday with an eight-fold increase in quarterly adjusted earnings, and an announcement that it intends to seek a secondary listing on Nasdaq.
Management advised shareholders that the company aims for growth in its core poker business (the Rational group acquired last year for $4.9 billion includes major online gambling companies Full Tilt and Pokerstars) through expansion into other areas such as sports betting, social gaming and fantasy sports.
"We anticipate the launch of sports betting in certain markets in the coming days with an expansion across the network to take place through the first half of 2015," said Amaya CEO David Baazov, adding that the execution of the companys growth strategy will be through both organic growth and acquisitions.
Amaya has made important changes that switch it from a business-to-business oriented enterprise to one focused on business-to-consumer.
Company management said the group anticipates providing an update on the status of its Nasdaq listing application in the near future, and will provide updates on plans for other B2B assets in the near future. These could include Amaya Alberta (rebranded from Chartwell Technologies) and Cryptologic. Amaya sold Ongame to NYX last year.
On Monday, Amaya revealed that it has agreed to sell its Cadillac Jack slot machine manufacturing subsidiary to AGM for Cdn$476 million; that news followed an earlier announcement that Amaya would offload its Diamond Game subsidiary through the Innovo IPO. (see previous InfoPowa reports).
Key financial results for the fourth quarter and the full year at Amaya included:
* Adjusted profits up at Cdn$85.7 million (Cdn$67 million), or 42 Canadian cents per share, in the fourth quarter ended December 31, from Cdn$11.1 million, or 12 Canadian cents per share, a year earlier;
* Quarterly revenue was up almost 10 times to Cdn$368.6 million, driven by record growth across its core B2C poker business;
* Full-year revenue came in at Cdn$668.2 million - very substantial growth year-on-year when compared to the corresponding period in 2013 when the company recorded Cdn$145.9 million;
* Adjusted FY EBITDA of Cdn$292.7 million (FY 2013: Cdn$62.6 million);
* Adjusted earnings of Cdn$154.6 million, up from Cdn$16.7 million;
* Sales and marketing costs massively increased from 2013's Cdn$2.8 million to Cdn$63 million in 2014;
* In the UK, the company anticipates that the impact of point of consumption tax is likely to be Cdn$45 million in 2015;
* Plans well advanced to launch full suites of online casino games at Full Tilt and Pokerstars before mid-year;
* Amaya hopes to achieve licensed status in New Jersey within the next few months, and continues to lobby for regulated online poker in Pennsylvania and California.
* Estimated revenues for 2015 could significantly exceed Cdn$1 billion.
Amaya confirmed Tuesday that its PokerStars sportsbook, currently in beta-test format, accepted its first sports wager Tuesday.
888 CONFIDENT OF A BUOYANT FIRST HALF
The 888 Holdings online gambling Matt Damon betting odds to win Poker Madden Betting Pandemonia group has issued a trade update on the six month period ended 30 June 2014, reporting that the company's operations have continued to deliver a very strong performance, and that Management anticipates announcing EBITDA for the period significantly ahead of the comparable period in the prior year.
888 will release its results for the first half on 27th August 2014.
888 MAKING THE MOST OF THE CURRENT WORLD SERIES OF POKER
Gibraltar-based 888 Holdings plc and CIE, the interactive subsidiary the US land gambling group Caesars Entertainment, have entered a sponsorship agreement between 888poker and Caesars' the World Series of Poker for live internet streaming to all non-USA residents, of almost all WSOP final tables.
The live streaming kicked off Thursday at http://www.wsop.com/2013/live-video/, with the final table of event 1 of the WSOP. Most events will include hole card coverage.
As part of this sponsorship, 888poker will be offering several online promotions and tournaments for players to win seats to the WSOP Europe later in the year, joining Team 888poker alongside its ambassadors, Shane Warne, Georges St-Pierre, Jesse Sylvia, Jake Balsiger, Russell Thomas, Padraig Parkinson and Sam Holden.
Itai Pazner, senior vice president of 888, said, "We look forward to further building our relationship with WSOP as the live streaming sponsor of World Series of Poker Las Vegas and hope that the premier coverage will reach thousands of poker enthusiasts around the globe."
Gareth Edwards, Director of 888poker commented, "We look forward to bringing viewers all the action straight from the Rio to their PCs or mobile devices. We have some great commentators lined up and we're expecting some great poker entertainment."