Amaya Gaming dropped a bombshell today, announcing a surge in their projected 2016 revenue. Whispers are circulating of a figure nearing $1.16 billion, surpassing their initial forecast. Their bottom line is also looking rosy, with adjusted EBITDA anticipated to exceed $520 million. This translates to a projected adjusted net income ranging from $364 to $374 million, equating to earnings per share of $1.87 to $1.92. Adding to the day’s events, CFO Daniel Sebag is stepping down. It’s safe to say, it’s been a whirlwind day for Amaya!
The head honcho at Amaya, Rafi Ashkenazi, is truly enthusiastic about the company’s trajectory. He firmly believes that 2016 will be a banner year for income. This bullish outlook originates from an exceptional final quarter that surpassed projections, primarily due to some astute operational enhancements and a triumphant reintroduction in the Portuguese market. Ashkenazi emphasizes that Amaya will intensify its focus on impactful and precise product marketing campaigns.
Reflecting on 2016, Ashkenazi highlights the company finding its groove with robust, upward movement that only gained steam as the year progressed. He attributes this triumph to Amaya’s approach of enhancing the digital poker encounter for recreational players. Essentially, they’re capitalizing on their status as a premier online poker name to draw in fresh participants while prompting both new and current players to explore their casino and sports wagering options. It’s all about amplifying the worth of every patron.
Naturally, Ashkenazi acknowledges potential obstacles, such as the volatile currency valuations that have affected customer purchasing ability over the preceding few years. There’s also the looming prospect of withdrawing from the Australian online poker arena, a maneuver declared previously. In spite of these hurdles, Ashkenazi is certain that Amaya will sustain its upward trajectory in 2017, adhering to its established plan.
Were truly enthusiastic about several forthcoming endeavors, including a fresh loyalty initiative encompassing our offerings, investigating new territories, and guaranteeing our digital casino and sportsbook provisions are first-rate. These actions, coupled with our dedication to operational brilliance, will be essential catalysts for our progress, aiding us in navigating present and upcoming obstacles.
Details regarding the date and hour of our complete fiscal year 2016 outcomes announcement will be shared in early March.
Meanwhile, here are some noteworthy points from the final quarter of 2016: our overall distinct active patrons expanded by 8% annually, reaching roughly 2.6 million. Approximately 2.5 million of those engaged in online poker, representing a 5% yearly rise. Our internet casino offerings witnessed even more robust expansion, with distinct active patrons surging by 47% to around 648,000. Our latest addition, internet sports wagering, experienced the most remarkable surge with distinct active patrons soaring 88% to approximately 247,000.
Furthermore, we observed a substantial increase in client enrollments this quarter, adding 2.6 million and reaching roughly 108 million by year’s end.
Lastly, Daniel Sebag has communicated his choice to vacate his position as CFO later this year, once a fitting replacement has been identified and instated. He has pledged his complete assistance in ensuring a seamless handover.
Amayas leadership team has enlisted a heavy hitter, bringing on board executive recruitment firm Spencer Stuart to locate their next Chief Financial Officer. Sebag, an integral part of the company since 2007, is finally stepping down. His tenure has witnessed everything – from their humble beginnings as a small, determined startup to their IPO and the monumental $4.9 billion purchase of Rational Group in 2014 that catapulted them into a consumer technology giant.
Divyesh Gadhia, Amaya’s Chairman, expressed sincere gratitude for the outgoing CFO. “Danny dedicated himself completely to establishing Amaya as a worldwide gaming frontrunner, positioning us for a prosperous future,” he remarked. “We are immensely thankful for his countless contributions and extend our best wishes for a fulfilling retirement.”
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