Amaya’s $18.38 million

AMAYA Gaming Group has announced that their revenue is up 204% to $18.38 million, with a growth of a staggering 353%. Their expansion into the Caribbean and Africa has been pinpointed as a major contribution to the recent success. The results account for the three and twelve month periods ending December 31, 2011.

Gross profit increased to $17.02 million (from $4.73 million) and was almost 100% of the revenue being taken. Q4 revenue also saw an astronomical rise of 353% to $9.49 million.

“Amaya capped a breakthrough year with an outstanding fourth quarter,” said Mr. David Baazov, President and Chief Executive Officer of Amaya Gaming Group.  “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.”

Mr. Baazov continued:  “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.”

Other Amaya Gaming Group developments include an exclusive 20-year contract with the National Lottery of Moldova to provide a full range of gaming solutions including lottery systems, video lottery terminals, sports betting, and digital gaming; an exclusive 10-year contract with the Government of the Republic of Armenia to implement a national lottery program and to provide its central reporting and integrity software solutions and the selection by Loto-Québec subsidiary Société du Jeu Virtuel du Québec (SJVQ) to provide content for its gaming website, Espace-jeux.