Canada's Amaya Gaming Reports Substantial Revenue Increase

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Canadian company Amaya provides gaming solutions to governments in the areas of integrity software, taxation, regulation, lottery and online gaming, ensuring the integrity of the gaming network environment on all devices deployed within a given jurisdiction.

Amaya said net earnings for the fourth quarter was $2.89 million or 6 cents basic earnings per share compared to a loss of $0.6 million or 2 cents in the year earlier period.

Amaya’s revenue in the fourth quarter of 2011 was $9.49 million. This represented year-over-year growth of 353% from revenue of $2.10 million in the fourth quarter of 2010, and sequential growth of 139% from revenue of $3.97 million in the third quarter of 2011.

“Amaya capped a breakthrough year with an outstanding fourth quarter,” said David Baazov, President and Chief Executive Officer for Montreal-based Amaya.

“We tripled revenues in 2011 as contract wins turned into active deployments. This was the first year in which we gained real traction in the government solutions vertical and in the hospitality vertical we deployed a significant number of Mosino units, which will strengthen the recurring revenue stream.

“Looking ahead, we see additional opportunities in the public sector as more governments including several in North America are considering the expansion of regulated gaming activities in their jurisdictions. Even on the strength of the existing contracts we have already deployed or are in the process of implementing, we are very well positioned for continued rapid growth in 2012.”

The sequential increase was driven by the ongoing deployment of Mosino systems in the Caribbean and the launch of online and SMS gaming initiatives in Africa.

Reported by Maggie B.

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