Amaya’s Online Casino Growing But Taking Market Share From Poker Sector
PokerStars parent company Amaya Gaming just released their Q4 results with some interesting figures. Firstly Amaya’s revenues rose nearly 6% to $310.4m in the three months ending December 2016 and adjusted earnings rose 17.8% to $147.6m. Overall revenues for 2016 were a record high of $1.15 billion which was a 7.8% revenue increase.
Poker revenues for the quarter amounted to 70% which was down from the 78% of the same quarter in 2015. PokerStars online poker revenues dropped 5% to $217.2m. The reasons for poker revenues dropping for Amaya were put down to casino cannibalization and unfavorable currency fluctuations.
Sportsbook and casino revenues totaled $80.2m which was a 59% increase year-n-year. Of this casino revenues netted around $73m with active users increasing 47% to 648k.
With the addition of new casino content providers, the casino revenues are expected to rise further. The good news continues as Amaya said that in the first two months of 2017 revenues were already 13% higher that the same period last year and poker’s share is down to 68.9% from the 74.8%.
Amaya also mentioned plans to launch in India in 2017 and possibly in Columbia. Even a name change is on the cards as Amaya CEO Rafi Ashkenazi said that due to their ongoing shift away from its exclusive only poker roots, the idea of a name change will be brought for approval to the shareholders in order to better reflect the company as it is today and as it will be in the future.