Science & Technology
Science and Technology
Science and Technology
Wed, April 6, 2011
Amaya announces Q4 2010 and Year-End Financial Results
MONTREAL, April 6 /CNW Telbec/ - Amaya Gaming Group Inc. (TSXV: AYA) ("Amaya"), an entertainment solutions provider for the gaming industry announced today its 2010 fourth quarter and year-end financial results.
Financial Highlights
| For the three and twelve-month periods ending December 31 (in dollars) | ||||||
| Q4 2010 | Q4 2009 | For the year- ending December 31, 2010 | For the year- ending December 31, 2009 | |||
| Revenues | 2,096,610 | 2,616,086 | 6,049,236 | 5,900,604 | ||
| Gross Profit | 72% | 81% | 78% | 75% | ||
| Net earnings (loss) and comprehensive income (loss) | (101,148) | 1,010,570 | 336,456 | 648,038 | ||
| Basic and diluted earnings (loss) per share | $0.00 | $0.04 | $0.01 | $0.02 | ||
2010 Highlights
- Entered into an agreement for the deployment of more than 800 Mosino hospitality entertainment systems ("Mosino") at the Sirenis Resort in Punta Cana, Dominican Republic;
- Secured a public lottery permit from the Betting Control and Licensing Board of Kenya ("BCLB") to operate a Short Message Service (SMS) Lottery;
- Secured the distribution rights of Bingo Mundo, a bingo lottery software proprietary to Société des Bingos du Québec in various American states in addition to Mexico, Central America, Caribbean and South America;
- Closed a bought deal equity offering of 3,400,000 common shares at a price of CAD$3.00 per Common Share for aggregate gross proceeds of CAD$10,200,000;
- Entered into a second agreement for the deployment of an additional 220 Mosinos with CGS TRINIDAD Ltd;
- Secured a second public lottery permit from the BCLB to operate and promote a public lottery in Kenya;
- Secured a license from the Ministerio de Hacienda of Dominican Republic to operate online gaming;
- Selected by the BCLB to operate online gaming in Kenya;
"2010 was a very exciting and fruitful year for Amaya. We secured numerous licenses permitting us to strategically deploy our leading entertainment solutions on a global scale. We were also able, in the fourth quarter of 2010, to close a $10 million bought deal despite challenging market conditions. We believe we are perfectly positioned to continue increasing our international presence as we take full advantage of the growing acceptance of our technological capabilities" said Mr. David Baazov, President and Chief Executive Officer of Amaya. "We anticipate seeing all of our capital investments start paying-off over the coming quarters as our revenues and overall profitability sequentially increase following our recently launched initiatives" added Mr. Baazov.
Financial Statements and Management's Discussion and Analysis
The complete financial statements, notes to financial statements and Management's Discussion and Analysis for the three and twelve-month periods ended December 31, 2010, are available on the SEDAR Website at [ www.sedar.com ].
About Amaya Gaming Group Inc.
Amaya is engaged in the design, development, manufacturing, distribution and sale of technology based gaming solutions for the regulated gaming industry worldwide. For more information please visit [ www.amayagaming.com ]
Disclaimer in regards to Forward-looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, Amaya does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
