Strong revenue growth at Amaya in Q1-2014

The Montreal-based online and land gambling software provider Amaya Gaming has posted a set of Q1-2014 results that show strong revenue growth compared to the same quarter in 2013…but reports that adjusted net earnings at Cdn 3.3 million are down on the Cdn$3.8 million earned in Q1-2013.

Highlights of the quarter included:

* Revenue of Cdn$41.2 million up from Cdn$38.1 million in Q1-2013.

* Net income improved from a loss of Cdn$7.4 million in Q1-2013 to a positive Cdn$39.6 million in Q1-2014.

* EBITDA at Cdn$41.9 million well up on Q1-2013’s Cdn$12 million.

CEO and president David Baazov said that in order to increase market share within existing customers and to attract new customers, the company has been actively developing new and innovative online and mobile games content through its proprietary games studios.

“We expect to roll out more games in the second quarter including multiple mobile slots,” he said.