Amaya reports a positive second quarter and half-year

Online gambling group Amaya Inc., has posted positive second quarter and half-year 2015 results to end June, reporting a period of growth, with the following highlights:

* H1-2015 revenue grew to $656.9 million (H1-2014: $624.7 million;

* Adjusted EBITDA in the period reached $279.5 million (H1-2014: $248 million;

* Adjusted net earnings rose from $170.4 million last year to $138.9 million in H1-2015;

* EPS at US cents 85 (H1-2014: US cents 69;

* Second quarter revenue rose to $319.6 million from Q2-2014’s $289.3 million;

* Adjusted EBITDA over the quarter was $138.2 million (Q2-2014: $111.8 million);

Commenting on the results, CEO David Baazov characterised the company’s performance as “exciting”, with the core online poker business strong, and customers embracing the diversification into other verticals.

“We’ve completed our transition to a pure business-to-consumer technology company having finalised the divestiture of our B2B businesses,” Baazov said.

“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.”

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