PokerStars takes first sports bet, expects New Jersey license this quarter

Canada’s Amaya Gaming announced that its PokerStars online poker site took its first sports wager on Tuesday following the beta launch of its new sports betting product.

Amaya, which completed its $4.9b purchase of the Rational Group’s assets – including online poker giants PokerStars and Full Tilt – in August 2014, reported revenue of C$368.6m in the three months ending Dec. 31, up from just $37m in the same period the previous year. Adjusted earnings came to $154.6m, up from $16.7m.

But actual Q4 earnings came to a loss of $26.7m compared to a loss of $6.8m. Reflecting Amaya’s shift from a B2B to a B2C focus, sales and marketing costs leaped from $2.8m in 2013 to $63m last year.

The full year numbers were similar, albeit on a smaller scale, reflecting the half-year contributions from the Rational assets. Revenue rose to $688m, adjusted earnings came to $292.7m and net losses came to $7.5m, down from $29.2m. Acquisition costs rose from $1.3m to $22.4m.