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.