LISBON: Amaya Inc. is raising its estimate for 2016 adjusted net earnings by about six per cent, citing better-than-expected results in the fourth quarter, helped by its casino games and a successful relaunch in Portugal. “We anticipate that 2016 will be a record year of revenues for Amaya,” said CEO Rafi Ashkenazi in a statement.
Amaya’s stock was up 3.16 per cent at $18.30 in morning trading. The Montreal-based company — which owns PokerStars and other online gambling sites — says it now estimates 2016 adjusted net earnings will be between US$364 million and US$374 million. Its previous estimate for full-year adjusted net earnings, in U.S. dollars, was between $344 million the $354 million. The new estimate for adjusted net earnings per share is between $1.87 and $1.92 — up from the November estimate of between $1.78 and $1.83 per share. Amaya said it expects record annual revenue of between $1.153 billion and $1.158 billion. The bottom end of the range is up from $1.137 billion while the top end is up from $1.157 billion. The company also announced that chief financial officer Daniel Sebag has advised Amaya of his intention to retire this year after a successor is identified and appointed. Sebag joined Amaya in 2007 as its first CFO. Over his decade with the company, Sebag managed its finances through its initial public offering of stock as well as its 2014 acquisition of the Rational Group — owner of PokerStars and other consumer gaming businesses.
