Increasing revenues year on year has to be a primary goal of any business, because if not what is the point of trading. For example. if you were to double your revenue in 2013 compared to that of the previous year you would be more than happy no doubt. That is exactly what has happened at the Amaya Gaming Group as they have today reported an increase in revenues for 2013 of 102% compared to the previous year, yet the company are slightly disappointed with those figures because they just missed the target they set themselves!
In 2012 Amaya Gaming reported revenues of $76.4million, but today those figures now read $154.5million, an increase of 102%, though it fell just short of the target of $156million the company set itself. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for 2013 now stand at $57.9million, and the companies adjusted net income now stands at $15.2million for 2013 up from the $10.6million of the previous year.
The President and CEO of the Amaya Gaming Group is David Baazov and he had this to say in relation to the figures released today. He said, “We're pleased with the development of our business in 2013, specifically the growth of our land-based gaming solutions, the launch of our interactive gaming solutions into the emerging U.S. market, and the bolstering of our lottery solutions through the acquisition of Diamond Game.”
Any company that doubled their yearly revenues would be pleased, though Mr Baazov had this to say regarding the failure to meet the target Amaya set itself earlier in the year. He said, “The Corporation's revenue was slightly below guidance primarily due to the decline in our hosted casino revenues from WagerLogic, which we sold subsequent to year end.”
None the less a 102% increase on 2012 is a figure that any company in the world would take right now, especially during the current economic downturn that is sweeping the globe. The future looks good for the Amaya Gaming Group and another strong year is expected in 2014.