Profit (adjusted EBITDA) was up 14.1 % year on year, to US$ 524 million in 2016, while net earnings on continuing operations were US$ 135.6 million, a dramatic improvement on the US$ 20 million loss posted in 2015.
"2016 was a record year of revenues for Amaya," said CEO Rafi Ashkenazi in a statement. "Our proactive changes to the poker ecosystem and customer-acquisition initiatives continue to reverse certain negative trends and we are starting to see organic growth in that business, our casino offering exceeded expectations as we introduced limited marketing campaigns and focused on our cross-sell efforts, and we continued to build and develop our sportsbook,” he added.
"The strong performance of our business has helped us to reduce our currency risk, lower our interest expense and accelerate the payment of the remaining amounts owed on our deferred payment obligation, all of which will allow us to continue pursuing our four strategic priorities,” concluded Ashkenazi.
The upward trend was replicated in Q4, 2016, with total revenue up 5.9 % year on year, to US$ 310.4 million, and earnings (adjusted EBITDA) up 17.8 % to US$ 147.6 million.
"We expect to continue our 2016 momentum
and execute on our strategy in 2017,” said Ashkenazi.
Source: GMB
