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Amaya 2011 Financial Results Up 200 Percent


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Leading Canadian network and server online gambling developer Amaya Gaming Group
Incorporated has published its financial results for 2011, which showed a
massive 200 per cent revenue increase to over CA$18 million year-on-year.

Headquartered in Montreal, Quebec, Amaya’s gross profits for 2011 were CA$17.02
million, compared with CA$4.73 million in 2010. In the fourth quarter of 2011
alone, the gaming firm’s revenues jumped by a whopping 353 per cent to CA$9.49
million, while its third quarter revenues grew by a noteable 39 per cent to
CA$3.97 million, year-on-year.

Amaya’s 2011 financial results reflected the company’s increased sales
growth in terms of its Mosino hospitality entertainment system, as well as
revenues generated by its Chartwell subsidiary, coupled with large SMS sales in
Kenya.

Amaya Topped Breakthrough Year with Outstanding Q4

Said Amaya Gaming Group Incorporated President and CEO, David Baazov, ‘Amaya
capped a breakthrough year with an outstanding fourth quarter. 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,’ he continued. ‘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.’

Amaya’s total expenses rose considerably in 2011, compared to the previous
financial year, rising to $6.5 million for the year from a paltry $0.9 million
in 2010. This was attributed to the company’s massive marketing and advertising
drive, coupled with an increase in prize pools across its Ugandan and Kenyan
lottery operations.

Other areas that incurred expenses for Amaya in 2011 included paying royalties
for rights to use branded content, selling expenses associated with Chartwell,
fees incurred to ensure gaming license compliance, and an increase in sales
activity focused on prospective governments as new clients.

Amaya is Still in the Process of Acquiring Cryptologic

Prior to Amaya’s financial results for 2011 being released, the gaming firm has
been in the news recently in connection with its proposed acquisition of leading
online gambling software vendor, Cryptologic. Amaya’s acquisition offer made to
Cryptologic expires on March 28 this year.

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