Montreal-based Amaya Gaming Group Incorporated, an entertainment solutions provider for the gaming industry, has released results that are financial an increase of simply below 292 percent in overall profits for the final three months of 2012 to $37.19 million (Canadian).
The video gaming firm announced that its adjusted earnings before interest, tax, depreciation and amortization for the quarter that is fourth of year reached $16.74 million, showing a year-on-year enhance of around 391 per cent. However, the net earnings of Amaya Gaming fell from the revenue of $2.88 million for the same duration in 2012 to $711.309 in the red.
Loss and profit
Amaya reported a general increase of almost 316 per cent in revenues year-on-year to $76.43 million, and revealed total earnings of $23.11 million before interest, income tax, depreciation and amortization, but regardless posted an overall business loss of $7.11 million for 2012, increasing the deficit of $1.92 million of 2011.
‘ The year that is past been transformational for Amaya,’ explained president and chief executive officer for Amaya Gaming, David Baazov. ‘We expanded significantly in Europe by increasing the licensee base of our subsidiaries Chartwell and Cryptologic. Cryptologic went from a loss that is net the first half of 2012 to a significant contributor of income for Amaya Gaming by the conclusion of 2012.’
He went to explain that Amaya Gaming also acquired gaming machine supplier Cadillac Jack, in addition to business-to-business poker community provider Ongame, which has given the firm a stronger presence in the U.S. market.
‘ We now have the technology to address the growing trend toward convergence in our industry, with operators increasingly trying to offer physical, virtual and mobile video gaming items and experiences to their customers,’ continued Baazov.
Baazov also stated that the firm has become securely focused on strengthening their foothold through strategic partnerships throughout the U.S. since the evolution of online gaming continues to gather pace.
‘Additionally, we expect you’ll realize synergies from our purchases of Ongame and Cadillac Jack as we did with Cryptologic, including growing their respective customer bases in a variety of jurisdictions.’
All in all, despite the disappointing revenues acquired over 2012, Amaya Gaming is now feeling better positioned than ever, and is ready to take in 2013 and all for the new challenges and opportunities it will bring to the video gaming globe.
Vegas Strip and Macau Push MGM Resorts into the Black
Things are looking green over at MGM Resorts Global: after some P that is dicey& statements for the past couple of years, the first quarter of 2013 place the casino conglomerate in the black colored. They can applaud performances by their Las vegas, nevada Strip CityCenter development,which pulled in an earnings that are all-time, as well as its Macau cash cow, which similarly outperformed any past first quarters in January through March of this year.
MGM reported web first-quarter earnings of $22.6 million on revenues of $2.54 billion in comparison to a first-quarter loss in $203.3 million on revenues of $2.47 billion for similar time period year that is last. a turnaround that is impressive.
MGM Resorts Chairman and CEO Jim Murren was understandably full of puffery about the turnaround in earnings profile (no question calculating their own raise for next year); Murren’s issued statement on the achievement noted that ‘our first quarter 2013 outcomes are the best we now have reported because the beginning of the downturn [read ‘financial avalanche and freefall’] five years back, led by improved results at our nevada Strip resorts.’
CityCenter Pulling Its Weight
Turns out CityCenter will probably be worth its weight in gold for MGM; it brought in $93 million for the quarter, that is triple the $32 million it did for same time frame year that is last. Adding to the upturn had been 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 known as Crystals, and its own second non-gaming entrant in the la-de-dah hotel entries, the uber-posh Mandarin Oriental royal vegas bonus. Web revenues for that 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 enhanced; Aria up 2+ percentage points, to 89 per cent, and Vdara up 4+ portion points to 85.7 percent.
In a success meeting after the report’s release, Murren noted ‘Las Vegas is nicely recovering,’ and pointed out that future contributing factors to Vegas’ improved numbers could be a MGM that is new Grand, Hakkasan, and lots of 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 realize Beyonce, but isn’t Bieber a little young for the high-roller demographic? Guess this is exactly why we didn’t have of the same quality a quarter that is first MGM Resorts; we’re not clever enough to understand these specific things.
Macau Continues to Dazzle
MGM China, always 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 percent, respectively.
It is Good to Be Green
With a $100 million New York City-style park being designed as being a Monte Carlo brand New York brand New York entr’acte, and a 20,000-seat arena mgm is building for 2016 completion, not to say new resorts being prepared for Massachusetts, Maryland, Toronto, and Macau’s chi-chi Cotai Strip, we would say MGM’s green future is searching pretty emerald in shade.
UltimatePoker.com Off to Good Start with Online Poker in Nevada
Even though technically you have to take Nevada to have fun with the first legal online poker ever within the U.S., which hasn’t stopped people in almost every state in America, and from 20 other countries abroad, from signing up to participate history. Yep, appears like Stations Casinos-owned UltimatePoker.com, the first-ever regulated legal U.S. Internet poker site, might just be a winner. Whom woulda thunk it.
Off and Running
Just launched, this new site that is legal no time at all to get gangbusters; in its first 72 hours, it had registered thousands of players (and might have had much more were it not for an odd Verizon mobile phone glitch that prevented users from being properly confirmed, making them none too happy, either). In its first day for action, it had already dealt its 100,000th hand and by its very first evening, had 50 cash games going with completely loaded action.
‘I would personally say we were the greatest poker space in their state at that hour,’ Ultimate Gaming’s CEO Tobin Prior declared the following day; an extensive claim that could only be made as World Series of Poker at the Rio doesn’t kick off for some more weeks yet, of which time it’s hard to top the bucks game action there, during the Venetian, Caesars, or some of many other poker-crazy casinos through the month leading as much as the Main Event of WSOP.
The overriding point is, it absolutely was a success.
State Revenues Will Benefit
While Ultimate Poker president Tom Breitling wouldn’t spill the beans on how bucks that are many collected in their first day or two of operation, Nevada’s Gaming Control Board certainly is privy to that information in the newly regulated, overseen world of on-line poker, American-style. It isn’t interest that is just random either; the Silver State will likely be gathering 6.75 percent of the rake, the vig that the house swoops out of each money pot, because well as a percentage of tournament charges collected.
Because any player anywhere can play on the website once they enter Nevada’s borders (you got that GPS chip implanted in your head now, right?), thousands (to date) have been registering from far way, in anticipation of their arrival for WSOP. Clever planning, unleashing the site several weeks before WSOP fever hits; kind of like how movies plan their releases for Christmas Day, whenever mom and dad are stuck at home with the kids, and simply desire to bring them somewhere they are able to 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 web site. Users can make deposits and withdrawals both online and at any of the Stations Casinos’ cages, in what is commonly referred to as brilliant cross-branding strategy. Booyah.
More over, Stations plans to combine its players that are existing rewards program along with its online site’s, to make a form of Pavlovian dog insta-drool component that never been observed in poker till now. It all adds up to a tremendously successful kickoff.
‘I genuinely believe that’s a testament to Las Vegas,’ Breitling said. ‘ People are planning their trips and are saying this will be a right section of that trip.’
Gambling Execs Living Large as Highest-Paid CEOs for Public Organizations
Wanna make the bucks that are big? Maybe your mom told you to definitely go into legislation or medicine, but the money that is real in gambling. Perhaps Not as a high-roller; as being a casino executive. If you do not think us, have 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; of the top five spots, four are held by well-known gaming moguls.
Wynn Leads the Pack
Based on 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 illness) Steve Wynn stands at #1 at $17.7 million. At that yearly income, we have to say we think he should have had the oppertunity to find a better cosmetic surgeon and much more realistic hair dye.
By doing a calculation that is slightly different namely, adding in stock options, infamous curmudgeon and Las Vegas Sands CEO Sheldon Adelson happens #1 by a long-shot with a bundled $41.3 million; that’s $30.6 million in stock options, and $10.7 million in actual pay. We’d walk like a Venetian for that types of dough.
In a sleight that is nice of, Adelson’s wife, Dr. Miriam Adelson, brought in a modest $50K in 2012 for serving since the video gaming conglomerate’s ‘director of community involvement,’ whatever that requires. But then for supposedly helping to stabilize the company (maybe that means administering bipolar meds to her that is hubby) the Missus was deemed a lavish $3.8 billion. Yes, billion. Maybe the White House should call her in and see what she can do with their spread sheets if she’s got that type of talent.
Loveman Felt the Love
Caesars Entertainment’s CEO Gary Loveman wasn’t hurting much year that is last with a need home pay of $12,800,000, he came in at #3. Just FYI, at this degree in the career food chain, actual salary generally just accounts for about a fourth (or less) of the exec’s total pay package; we are guessing besides commodity and securities, there’s lots of personal jet travel, some pretty nice dishes and a swank hotel suite here and here, anywhere they could be on the planet.
The no. 4 spot ended up being the only one that went to a executive that is non-gaming. Rajesh Shrotriya, CEO of Spectrum Pharmaceuticals, a company that makes cancer treatment drugs, was in the spot that is top year, but fell to fourth largely due to a 60 % pay cut brought on by lower stock and option bonuses. We’re pretty sure they can nevertheless afford a mortgage that is nice though, with an annual cash salary of $10, 108,000.