Canada’s Amaya Gaming turned in its official Q3 results on the same day that former CEO David Baazov significantly upped his offer to acquire the company.
Amaya’s results were largely in line with the trading update it released last month, with revenue up 9.5% to $270.8m and adjusted net earnings improving 23% to $85m. Amaya also largely maintained its FY16 guidance for revenue to top out at $1.157b and adjusted net earnings maxing out at $354m.
Amaya’s core poker revenue at its flagship PokerStars brand came in at $196.8m, a 1.3% year-on-year decline. July was a particularly bad month, with revenue down 7.8% following Stars’ exit from “a few smaller jurisdictions” and the end of the Euro 2016 football tournament, leading to less cross-sell from sports bettors.
Poker represented 73% of total revenue, down from 81% in Q3 2015, despite real-money active users rising 3% during the quarter. Amaya’s casino users rose 40% to 486k while sports bettors totaled 232k, up from less than 100k in Q3 2015 when the sportsbook product was still wet behind the ears.