CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
Related News

Gaming News

 

Amaya files Business Acquisition Report and provides business update

17 October 2014

MONTREAL, Quebec -- (PRESS RELEASE) -- Amaya Gaming Group Inc. (AYA.TO) ("Amaya" or the "Corporation") announced today that it has filed on SEDAR its Business Acquisition Report (the "BAR") related to its August 1 acquisition of Oldford Group, owner of PokerStars and Full Tilt.

"We're very pleased with the performance of PokerStars and Full Tilt in 2014," said Amaya CEO David Baazov . "The core poker business continued to grow during the first half of the year and recorded strong cash flow. More recently, we have broadened our rollout of casino, including into Spain , and introduced an exciting new poker game that has proved very popular on Full Tilt and which was recently launched on PokerStars."

In the first half of 2014, Oldford Group recorded USD$567.9 million in revenues (H1 2013 - USD$545.9 million), USD$218.4 million in net income (H1 2013 - USD$189.9 million), and USD$246.4 million in net cash from operating activities (H1 2013 - USD$207.0 million). On a combined basis, Amaya and Oldford Group recorded C$706.5 million in revenues and C$276.3 million in net income in the first half of 2014. Pro forma financials for the combined entity are included in the BAR.

Amaya Business Update

New poker product launches on PokerStars.com and FullTilt.com

Following successful launches in Spain, France and Italy, PokerStars launched an exciting new poker variant called "Spin & Go's" to players on its global .com network on September 29 . The format has proved to be an instant hit, with more than 7.5 million games played over the first two weeks. The successful launch demonstrates that product innovation can attract new poker players and increase the amount of play from existing customers.

Spin & Go's are fast-paced, three-handed hyper-turbo Sit & Go tournaments, featuring 500-chip starting stacks, which gives players of all levels the chance to win up to $30,000 in a matter of minutes. We believe that the speedy, mobile-friendly poker variant with the exciting potential for a big payout will help attract new recreational players to our platform, reactivate players in our database and excite current players. Full Tilt rolled out its version, Jackpot Sit and Go's, on its global .com site earlier in the summer.

< Gaming News

Amaya files Business Acquisition Report and provides business update is republished from Online.CasinoCity.com.