Amaya Exceeds 2016 Projections and Announces CFO Departure

Amaya has elevated its fiscal forecast for 2016, projecting a robust conclusion to the year. The firm now anticipates revenue to reach the upper limit of its earlier disclosed projections, falling between $1.153 billion and $1.158 billion. This surpasses their previous estimate of $1.137 billion to $1.157 billion, and notably exceeds their 2015 revenue of $1.072 billion.

This upward adjustment is fueled by a solid performance across Amaya’s diverse enterprises, combined with advantageous market circumstances. The corporation is witnessing particularly strong impetus in its online poker and casino products.

Given this financial triumph, Amaya’s Chief Financial Officer, Daniel Sebag, has opted to step down. Sebag has been crucial in steering the company’s financials through a phase of substantial expansion and transformation, and his guidance will be deeply felt.

The head of Amaya, Rafi Ashkenazi, conveyed optimism regarding the firm’s 2016 achievements, characterizing it as a year of unprecedented success. He attributed the remarkable Q4 outcomes to the robust performance of their casino offerings, operational efficiency programs, and the revitalization of their presence in the Portuguese market. Additionally, they prioritized impactful marketing campaigns to bolster their product promotion.

Ashkenazi emphasized the substantial momentum sustained throughout 2016, which he attributes to their strategic endeavors aimed at enhancing the online poker environment for casual players. By capitalizing on their global dominance in online poker, they effectively acquired new clientele, cross-promoted their casino and sports betting products to both existing and new users, and maximized the long-term value of their entire customer base.

Looking towards 2017, Ashkenazi acknowledged potential obstacles, including the persistent weakness of local currencies compared to the US dollar (a notable factor in recent years) and the potential cessation of real-money online poker services in Australia. Despite these challenges, he expressed confidence in sustaining their momentum and implementing their strategic blueprints.

Were implementing measures to enhance our enterprise and address current obstacles. These initiatives encompass a fresh rewards system encompassing our entire product range, investigating new territories, maintaining equilibrium between our internet casino and sports wagering platforms, and pursuing operational superiority.

Details regarding the date and hour of our comprehensive fiscal year 2016 earnings release will be disclosed in the early part of March.

During the final quarter of 2016, we observed an 8% rise in our overall active clientele compared to the previous year, reaching roughly 2.6 million. Approximately 2.5 million of these patrons engaged with our online poker offerings, signifying a 5% year-on-year growth. Our internet casino products experienced a substantial surge, boasting around 648,000 users, a 47% increase. Our expanding online sportsbook also fared well, reaching about 247,000 patrons, an 88% increase.

This quarter, we welcomed 2.6 million new client registrations, bringing our cumulative total to approximately 108 million by the year’s conclusion.

Daniel Sebag has communicated his intention to relinquish his position as CFO later this year. We will actively seek a fitting successor and guarantee a seamless handover. Daniel is dedicated to assisting Amaya throughout this transition.”

The organization’s governing body has commenced a worldwide quest for their subsequent financial head, collaborating with recruitment agency Spencer Stuart to locate the perfect applicant.

Joining Amaya in 2007 as their initial CFO, Daniel Sebag will be stepping down. Sebag held a vital part in Amaya’s expansion, supervising their funds and bookkeeping as they evolved from a fledgling enterprise into a publicly listed corporation. He was essential in maneuvering their purchase of the Rational Group in 2014 for $4.9 billion, a transaction that cemented Amaya’s standing as a dominant force in the consumer technology domain.

Divyesh Gadhia, Board Chair, conveyed his appreciation for Sebag’s commitment, remarking, “Danny has been an enthusiastic and devoted executive, and under his guidance, Amaya has become a frontrunner in the international gaming sector, well-situated for upcoming growth. On behalf of the organization, I express gratitude for his numerous contributions and wish him the very best in his retirement.”