Amaya Gaming, a prominent force in online gaming, has recently unveiled an improved forecast for their 2016 fiscal year financials. The outlook is quite optimistic, surpassing their earlier estimates. Not only are they exceeding revenue targets, now projected to reach between $1.153 billion and $1.158 billion, but they’re also anticipating a substantial rise in profits. Adjusted earnings are expected to land somewhere between $521 and $526 million, marking a robust gain from the original prediction. This equates to adjusted earnings per share estimated between $1.87 and $1.92. Alongside this favorable financial update, Amaya also shared that their Chief Financial Officer, Daniel Sebag, will be stepping down.
The head of Amaya, Rafi Ashkenazi, conveyed optimism in 2016 becoming a banner year for the company’s earnings. He credited the stronger-than-anticipated Q4 performance to several elements, such as the prosperous introduction of their casino offering, the execution of their operational efficiency strategy, and the triumphant reintroduction of their operations in Portugal. Ashkenazi stressed that all of this was accomplished while upholding effective and ethical marketing approaches.
He proceeded to underscore the company’s advancements in 2016, particularly their endeavors to enhance the online poker environment for casual players. By capitalizing on their worldwide dominance in online poker, Amaya effectively drew in new patrons and, notably, transitioned both new and current players to their casino and sports wagering offerings. This tactic, Ashkenazi elaborated, was crucial to optimizing the long-term worth of their clientele.
Anticipating 2017, Ashkenazi maintained a positive outlook on sustaining this progress and implementing their strategic blueprint. Nevertheless, he did recognize potential obstacles, like the ongoing depreciation of specific currencies relative to the US dollar – a pattern that had already been affecting them for the preceding two years. Furthermore, he alluded to the previously disclosed possibility of discontinuing their real-money online poker activities in Australia.
We are implementing measures to propel our company ahead and address upcoming obstacles. These initiatives encompass a fresh rewards system for our entire clientele, investigating new territories, advocating for equitable opportunities in internet gaming and wagering, and adhering to our blueprint for operational superiority.
Details regarding the precise date and hour of our comprehensive 2016 fiscal outcomes proclamation will be released in the beginning of March.
The concluding quarter of 2016 yielded several noteworthy achievements: our aggregate active individual patrons expanded by 8% relative to the preceding year, approaching approximately 2.6 million. Roughly 2.5 million of those patrons engaged in online poker, representing a 5% surge. Furthermore, we observed robust expansion in our casino and sports wagering offerings. Our internet casino garnered around 648,000 active patrons, a leap of 47%, while our latest sports wagering product captivated approximately 247,000 patrons, signifying an 88% upswing.
Additionally, we acquired 2.6 million fresh client enrollments this quarter, elevating the cumulative figure to roughly 108 million by the year’s conclusion.
Lastly, our Chief Financial Officer, Daniel Sebag, will be relinquishing his position later this year. We will unveil his successor upon identifying the ideal candidate. Daniel has provided assurance that he will guarantee a seamless transition of his duties.
The organization’s directors have engaged Spencer Stuart, a leading executive recruitment agency, to locate their subsequent Chief Financial Officer. Sebag, who assumed the role of Amaya’s inaugural CFO in 2007, has opted to step down. He was instrumental in establishing the finance and accounting department from its inception, overseeing their initial public offering, and guiding the company through its substantial purchase of Rational Group – a $4.9 billion transaction that propelled Amaya into a consumer technology behemoth.
“Danny dedicated himself entirely to making Amaya a global powerhouse in the gaming sector, and his efforts have set us up for ongoing prosperity,” remarked Divyesh Gadhia, Chairman of the Board. “On behalf of the entire corporation, I want to express our gratitude for his many years of commitment and wish him the very best in his well-earned retirement.”
