Amaya’s Exciting Q2 Boosts H1 Earnings
Amaya’s CEO David Baazov has a lot to smile about as their revenues for the first six months of the year were revealed. The second quarter in particular was an “exciting” one which helped the company post year-on-year growth across key financials.
Revenues for the first half of 2015 were $656.9 million and were up from $624.7 million from the same period last year. EBITDA increased from $248 million in the first half of 2014 to $279.5 million in 2015 while adjusted net earnings increased from $138.9 million to $170.4 million.
Baazov emphasized the second quarter as the main reason for the first half performance with revenue up in Q2 from $289.3m to $319.6m while adjusted EBITDA increased from $111.8m to $138.2m. He went on to say that their core poker business remains strong while customers “embrace their expansion into non-poker offerings.”
Baazov went on to say,” We substantially reduced our leverage and improved our financial condition. Since the acquisition of our B2C business, we’ve repaid approximately $529 million of our long-term debt, thereby eliminating an estimated $62 million of related interest expense. Our core poker business remains strong and our customers have embraced our expansion into non-poker offerings. We’ve completed our transition to a pure B2C technology company having finalised the divestiture of our B2B businesses.”