This story is sponsored by InterCasinoNew Ongame owner Amaya Gaming has unveiled a 360% rise in revenue to CA$18.3m in the third quarter, boosted by contributions from its Chartwell and CryptoLogic software subsidiaries.
The consolidation of revenues from the casino software businesses it acquired in July 2011 and February 2012 respectively also helped the company swing back into profit, achieving earnings (adjusted EBITDA) of CA$5.9m in the three months to 30 September, compared to the CA$900,000 loss it recorded in the same period last year.
CEO and president of the Toronto-listed company, David Baazov, said the board had been “very pleased with the organic growth of our revenues in the third quarter over the second quarter”, primarily driven by the consolidation of European revenues from Chartwell and CryptoLogic, through which it also owns and operates the InterCasino B2C brand.
With Amaya having completed the acquisition of poker network Ongame for €15m and of US casino machine supplier Cadillac Jack for CA$177m since the end of the reporting period, the company said it expected to post revenue of CA$36m to CA$40m and adjusted EBITDA of CA$13.5m to CA$15m in the fourth quarter.
Stockholm-headquartered Ongame yesterday also announced its first new deal since being acquired by Amaya, to provide freeplay poker for US East Coast tribal casino group Mohegan Sun, with a view to positioning the Connecticut-based casino and resort “at the head of the line when legalized real money poker is available to American customers”. The intrastate play-money offering for PCs, Macs, smartphones and tablets is scheduled for launch in early 2013.
