Amaya Gaming Expands, But Ends 12 Months in the Red

Amaya Gaming Expands, But Ends 12 Months in the Red

Montreal-based Amaya Gaming Group Incorporated, an entertainment solutions provider for the gaming industry, has released results that are financial an increase of just below 292 % in overall revenues for the last three months of 2012 to $37.19 million (Canadian).

The video gaming firm announced that its adjusted earnings before interest, taxation, depreciation and amortization for the quarter that is fourth of year reached $16.74 million, showing a year-on-year increase of around 391 per cent. However, the net earnings of Amaya Gaming fell from a revenue of $2.88 million for the same period in 2012 to $711.309 in debt.

Profit and Loss

Amaya reported an overall enhance of almost 316 per cent in revenues year-on-year to $76.43 million, and revealed total earnings of $23.11 million before interest, taxation, depreciation and amortization, but regardless posted a business that is overall of $7.11 million for 2012, increasing the deficit of $1.92 million of 2011.

‘ The previous year has been transformational for Amaya,’ explained president and chief executive officer for Amaya Gaming, David Baazov. ‘We expanded dramatically in Europe by increasing the licensee base of our subsidiaries Chartwell and Cryptologic. Cryptologic went from a loss that is net the very first half of 2012 to a significant contributor of earnings for Amaya Gaming by the end of 2012.’

He went along to explain that Amaya Gaming also acquired gaming machine supplier Cadillac Jack, along with business-to-business poker system provider Ongame, which has given the firm a stronger presence in the U.S. market.

‘ We have now have the technology to address the trend that is growing convergence in our industry, with operators increasingly looking to offer physical, virtual and mobile gaming products and experiences to their clients,’ proceeded Baazov.

Baazov also stated that the firm has become securely centered on strengthening their foothold through strategic partnerships throughout the U.S. due to the fact evolution of online video gaming continues to gather pace.

‘Additionally, we expect to understand synergies from our acquisitions of Ongame and Cadillac Jack as we did with Cryptologic, including growing their respective consumer bases in various jurisdictions.’

All in all, despite the revenues that are disappointing over 2012, Amaya Gaming is currently feeling better positioned than ever, and it is prepared to take in 2013 and all regarding the new challenges and opportunities it’s going to bring to the video gaming globe.

Vegas Strip and Macau Push MGM Resorts in to the Black

Things searching for green over at MGM Resorts Overseas: after some dicey P & L statements for the past couple of years, the first quarter of 2013 put the casino conglomerate within the black. They can applaud performances by their Las Vegas Strip CityCenter development,which pulled in an earnings that are all-time, and its own Macau cash cow, which similarly outperformed any past very first quarters in January through March of this year.

MGM reported web first-quarter income of $22.6 million on revenues of $2.54 billion in comparison to a first-quarter loss of $203.3 million on revenues of $2.47 billion for the same period of time year that is last. an impressive turnaround indeed.

MGM Resorts Chairman and CEO Jim Murren had been understandably full of puffery about the turnaround in earnings profile (no doubt calculating their raise that is own for year); Murren’s issued statement on the achievement noted that ‘our first quarter 2013 results are the best we have reported since the start of the downturn [read ‘financial avalanche and freefall’] five years back, led by improved outcomes at our vegas Strip resorts.’

CityCenter Pulling Its Fat

Works out CityCenter is worth its weight in gold for MGM; it brought in $93 million for the quarter, that will be triple the $32 million it did for same period of time year that is last. Causing the upturn were the center’s numerous upscale elements, including its kingpin casino Aria, Vdara (its non-gaming yet hotel/spa that is chic), the luxury retail and dining enclave understood as Crystals, as well as its second non-gaming entrant in the la-de-dah hotel entries, the uber-posh Mandarin Oriental. Net revenues for that combined casinopokies777.com number of entities was up 32 percent from 2012, to $315.1 million. Showing that the economy continues its slow climb upwards out of the black hole, occupancy rates at both Aria and Vdara improved; Aria up 2+ percentage points, to 89 %, and Vdara up 4+ portion points to 85.7 per cent.

In a success meeting after the report’s launch, Murren noted ‘Las Vegas is well recovering,’ and pointed out that future contributing factors to Vegas’ improved figures might be a new MGM Grand nightclub, Hakkasan, and several major special events, including a Floyd Mayweather-Ruben Guerrero boxing match, and a Rolling Stones concert at the MGM Grand. Beyonce and Justin Bieber also have concert dates in the works. We comprehend Beyonce, but isn’t Bieber a little young for a high-roller demographic? Guess this is exactly why we didn’t have nearly as good a quarter that is first MGM Resorts; we’re not clever enough to understand these specific things.

Macau Continues to Dazzle

MGM China, constantly one to shake its moneymaker at MGM, kept on keeping on in Macau, the world’s most lucrative gambling destination anyhow. It received net profits of $748 million, up 6 percent from very first quarter 2012, and both table games and slots hit the jackpot with jumps in profits that equalled 26 and 19 %, respectively.

It is Good to Be Green

Having a $100 million New York City-style park being designed being a Monte Carlo New York brand New York entr’acte, and a 20,000-seat arena mgm is building for 2016 completion, perhaps not to say new resorts being prepared for Massachusetts, Maryland, Toronto, and Macau’s chi-chi Cotai Strip, we would state MGM’s green future is searching pretty emerald in shade.

UltimatePoker.com Off to Good begin with Online Poker in Nevada

Even though theoretically you have to take Nevada to have fun with the first online that is legal ever in the U.S., who hasn’t stopped people in most state in America, and from 20 other countries abroad, from signing up to engage in history. Yep, appears like Stations UltimatePoker.com that is casinos-owned first-ever regulated legal U.S. Internet poker site, might just be a hit. Who woulda thunk it.

Off and Running

Just launched, the newest legal site took no time at all to go gangbusters; in its first 72 hours, it had registered thousands of players (and would have had much more were it perhaps not for an odd Verizon mobile phone glitch that prevented users from being properly verified, making them none too happy, either). In its very first day for action, it had already dealt its 100,000th hand and by its first evening, had 50 cash games going with completely packed action.

‘i would say we were the poker room that is largest in the state at that hour,’ Ultimate Gaming’s CEO Tobin Prior declared the very next day; a diverse claim that may only be made as World Series of Poker at the Rio doesn’t kick off for a few more weeks yet, of which time it’s difficult to top the cash game action there, at the Venetian, Caesars, or some of a myriad of other poker-crazy casinos during the thirty days leading as much as the Main Event of WSOP.

The main point is, it had been a success.

State Revenues Will Benefit

While Ultimate Poker president Tom Breitling wouldn’t spill the beans on how many bucks they collected in their first day or two of operation, Nevada’s Gaming Control Board certainly is privy to that particular information in the newly regulated, overseen world of online poker, American-style. It’s not just random interest, either; the Silver State is collecting 6.75 percent of the rake, the vig that the house swoops out of each cash pot, since well as a percentage of tournament fees collected.

Global Appeal

Because any player anywhere can play on your website once they enter Nevada’s borders (you got that GPS chip implanted in your head now, right?), thousands (so far) have been registering from far way, in anticipation of their arrival for WSOP. Clever planning, unleashing the site a few weeks before WSOP fever hits; kind of like how movies plan their releases for xmas Day, whenever mom and dad are stuck acquainted with the kids, and just desire to bring them somewhere they can shut them up for a hours that are few.

Also clever, is the land-based to online tie-in between mostly locals-oriented channels Casinos in Nevada, and the UltimatePoker that is new site. Users can make deposits and withdrawals both online and at any of the Stations Casinos’ cages, in what exactly is commonly referred to as brilliant strategy that is cross-branding. Booyah.

More over, Stations plans to combine its players that are existing rewards program with its online site’s, to produce a form of Pavlovian dog insta-drool component that never been seen in poker till now. It all adds up to a tremendously kickoff that is successful.

‘I believe’s a testament to Las Vegas,’ Breitling stated. ‘ People are organizing their trips and say this is a part of that trip.’

Gambling Execs Living Large as Highest-Paid CEOs for Public Companies

Wanna make the a lot of money? Maybe your mom told one to go into legislation or medication, but the genuine money is in gambling. Perhaps Not as a high-roller; as a casino executive. If you don’t think us, take a look at these staggering paychecks recently revealed in the Sweet 16 rankings of CEO pay for public companies that are HQ’d in Las Vegas, published by the Las Vegas Review-Journal; associated with top five spots, four are held by well-known video gaming moguls.

Wynn Leads the Pack

Based in the Securities and Exchange Commission (SEC) formula for calculating salaries and worth that is net Las Vegas visionary (despite being virtually blind now from degenerative eye infection) Steve Wynn appears at #1 at $17.7 million. At that annual income, we have to say we think he should have had the opportunity to find a better plastic surgeon and more realistic hair dye.

By doing a slightly different calculation, namely, incorporating in stock choices, infamous curmudgeon and Las Vegas Sands CEO Sheldon Adelson arrives #1 by a long-shot with a bundled $41.3 million; that’s $30.6 million in stock options, and $10.7 million in real pay. We would walk like a Venetian for that sort of dough.

In a nice sleight of hand, Adelson’s wife, Dr. Miriam Adelson, brought in a modest $50K in 2012 for serving because the video gaming conglomerate’s ‘director of community participation,’ whatever that involves. But then for supposedly assisting to stabilize the business (maybe that means administering bipolar meds to her hubby?), the Missus was deemed a lavish $3.8 billion. Yes, billion. Maybe the White House should call her inside and see just what she can do using their spread sheets if she has that sort of skill.

Loveman Felt the Love

Caesars Entertainment’s CEO Gary Loveman was not hurting much last 12 months: with a consume home pay of $12,800,000, he came in at no. 3. Just FYI, at this level in the career food chain, actual salary generally only accounts for about a fourth (or less) of the exec’s total pay package; we are guessing besides commodity and securities, there’s plenty of private jet travel, some pretty nice dishes and a swank hotel suite right here and there, wherever they could be in the world.

The number 4 spot ended up being the only person that went to a executive that is non-gaming. Rajesh Shrotriya, CEO of Spectrum Pharmaceuticals, a company which makes cancer treatment drugs, was in the top spot final year, but fell to fourth mostly due to a 60 per cent pay cut brought on by lower stock and option bonuses. We’re pretty sure they can still afford a nice mortgage, though, with an annual cash salary of $10, 108,000.

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