14 feb

Amaya Gaming Expands, But Ends in the Red year

Amaya Gaming Expands, But Ends in the Red year

Montreal-based Amaya Gaming Group Incorporated, an entertainment solutions provider for the gaming industry, has released results that are financial an increase of just below 292 percent in overall revenues for the final three months of 2012 to $37.19 million (Canadian).

The video gaming firm announced that its adjusted earnings before interest, income tax, depreciation and amortization for the fourth quarter of final 12 months reached $16.74 million, showing a year-on-year enhance of around 391 per cent. However, the web profits of Amaya Gaming fell from the revenue of $2.88 million for the period that is same 2012 to $711.309 in debt.

Loss and profit

Amaya reported an overall enhance 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 a business that is overall of $7.11 million for 2012, increasing the deficit of $1.92 million of 2011.

’ The previous year has been transformational for Amaya,’ explained president and chief executive officer for Amaya Gaming, David Baazov. ’We expanded dramatically 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 earnings for Amaya Gaming by the end of 2012.’

He went to explain that Amaya Gaming also acquired gaming machine supplier Cadillac Jack, also business-to-business poker network provider Ongame, which has given the firm a stronger presence in the U.S. market.

’ We have now have the technology to address the trend that is growing convergence in our industry, with operators increasingly looking to offer physical, digital and mobile gaming items and experiences to their customers,’ proceeded Baazov.

Baazov also stated that the company is currently securely centered on strengthening their foothold through strategic partnerships throughout the U.S. while the evolution of online video gaming continues to assemble pace.

’Additionally, we be prepared to realize synergies from our purchases of Ongame and Cadillac Jack as we did with Cryptologic, including growing their respective client bases in various jurisdictions.’

All in all, despite the revenues that are disappointing over 2012, Amaya Gaming is now feeling better positioned than ever, and is prepared to take in 2013 and all regarding the new challenges and opportunities it’ll bring to the video gaming world.

Vegas Strip and Macau Push MGM Resorts to the Black

Things searching for green over at MGM Resorts International: after some P that is dicey&amp statements for the past few years, the first quarter of 2013 put the casino conglomerate into the black. They are able to applaud performances by their Las vegas, nevada Strip CityCenter development,which pulled in an all-time earnings record, and its Macau cash cow, which similarly outperformed any previous first quarters in January through March of this year.

MGM reported web first-quarter income of $22.6 million on revenues of $2.54 billion in comparison to a first-quarter lack of $203.3 million on revenues of $2.47 billion for the same time frame year that is last. a turnaround that is impressive.

MGM Resorts Chairman and CEO Jim Murren ended up being understandably full of puffery about the turnaround in earnings profile (no doubt calculating their own raise for next year); Murren’s issued statement on the achievement noted that ’our first quarter 2013 results are the best we now have reported because the beginning of the downturn [read ’financial avalanche and freefall’] five years ago, led by improved outcomes at our vegas Strip resorts.’

CityCenter Pulling Its Weight

Ends up CityCenter may be worth its weight in gold for MGM; it brought in $93 million for the quarter, which can be triple the $32 million it did for same time frame year that is last. Causing the upturn had been the center’s numerous upscale components, including its kingpin casino Aria, Vdara (its non-gaming yet hotel/spa that is chic), the luxury retail and dining enclave understood as Crystals, and its particular second non-gaming entrant in the la-de-dah hotel entries, the uber-posh Mandarin Oriental. Net revenues for that band of entities was up 32 percent from 2012, to $315.1 million. Showing that the economy continues its slow climb upwards away from the hole that is black occupancy rates at both Aria and Vdara enhanced; Aria up 2+ percentage points, to 89 %, and Vdara up 4+ percentage points to 85.7 percent.

In a victory interview after the report’s release, Murren noted ’Las Vegas is well recovering,’ and pointed out that future contributing factors to Vegas’ improved figures could be a new MGM Grand nightclub, Hakkasan, and many 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 times in the works. We understand Beyonce, but is not Bieber a little young for the high-roller demographic? Guess that is why we didn’t have as good a quarter that is first MGM Resorts; we’re not clever enough to understand these exact things.

Macau Continues to Dazzle

MGM China, constantly one to shake its moneymaker at MGM, kept on keeping on in Macau, the world’s most lucrative gambling destination anyway. It attained 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 %, respectively.

It’s Good to Be Green

By having 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, maybe not to say new resorts being planned 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 begin with Online Poker in Nevada

Even though theoretically you have to take Nevada to play the first legal online poker ever within the U.S., which hasn’t stopped people in every state in America, and from 20 other countries abroad, from registering to be part of history. Yep, looks like Stations Casinos-owned UltimatePoker.com, the first-ever regulated legal U.S. Internet poker site, could just be a winner. Whom woulda thunk it.

Off and Running

Just launched, the brand new site that is legal no time at all to go gangbusters; in its very first 72 hours, it had registered thousands of players (and might have had even more were it perhaps not for an odd Verizon mobile phone glitch that prevented users from being properly confirmed, making them none too happy, either). In its day that is first in, 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 had been the largest poker room in the state at that hour,’ Ultimate Gaming’s CEO Tobin Prior declared the very next day; a diverse claim which 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 is hard to top the money game action there, at the Venetian, Caesars, or some of many other poker-crazy casinos during the month leading as much as the Main Event of WSOP.

The point is, it was a success.

State Revenues Will Benefit

While Ultimate Poker chairman Tom Breitling wouldn’t spill the beans on how numerous bucks they collected in their first day or two of operation, Nevada’s Gaming Control Board certainly is privy to that particular information in the newly regulated, overseen world of online poker, American-style. It isn’t interest that is just random either; the Silver State is gathering 6.75 percent casinopokies777.com of the rake, the vig that the house swoops out of each cash pot, because well as a share of tournament charges collected.

Internationally Appeal

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; form of like how movies plan their releases for Christmas time Day, whenever mom and dad are stuck at home with the youngsters, and simply want to bring them somewhere they could shut them up for a hours that are few.

Also clever, is the land-based to online tie-in between mostly locals-oriented Stations Casinos in Nevada, and the brand new UltimatePoker site. Users can make deposits and withdrawals both online and at any of the Stations Casinos’ cages, in what exactly is commonly referred to as brilliant cross-branding strategy. Booyah.

Moreover, Stations plans to combine its players that are existing rewards program with its online web site’s, to create a form of Pavlovian dog insta-drool factor that never been noticed in poker till now. It all results in a really kickoff that is successful.

’I believe’s a testament to Las Vegas,’ Breitling said. ’ People are planning their trips and say this will be a element of that trip.’

Gambling Execs Living Large as Highest-Paid CEOs for Public Companies

Wanna make the big bucks? Maybe your mom told one to enter legislation or medication, but the money that is real in gambling. Maybe Not as a high-roller; as a casino executive. If you do not believe us, consider these staggering paychecks recently revealed in the Sweet 16 rankings of CEO pay for public companies that are HQ’d in Las vegas, nevada, published by the Las Vegas Review-Journal; associated with the top five spots, four are held by well-known video gaming moguls.

Wynn Leads the Pack

Based on the Securities and Exchange Commission (SEC) formula for calculating salaries and net worth, Las Vegas visionary (despite being virtually blind now from degenerative eye disease) Steve Wynn stands at #1 at $17.7 million. At that annual earnings, we have to say we think he should have had the oppertunity to find a better chicago plastic surgeon and much more realistic hair dye.

By doing a somewhat different calculation, specifically, incorporating in stock choices, infamous curmudgeon and Las Vegas Sands CEO Sheldon Adelson comes out # 1 by a long-shot with a bundled $41.3 million; that’s $30.6 million in stock choices, and $10.7 million in actual pay. We would walk like a Venetian for that type or kind of dough.

In a nice sleight of hand, Adelson’s wife, Dr. Miriam Adelson, brought in a modest $50K in 2012 for serving once the gaming conglomerate’s ’director of community participation,’ whatever that entails. But then for supposedly assisting to stabilize the organization (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 perform along with their spread sheets if she’s got that kind of skill.

Loveman Felt the Love

Caesars Entertainment’s CEO Gary Loveman was not hurting much year that is last with a consume home pay of $12,800,000, he came in at # 3. Just FYI, at this degree in the career food chain, actual salary generally only 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 private jet travel, some pretty nice meals and a swank hotel suite here and there, wherever they may be on the planet.

The #4 spot was the only person that went up to a non-gaming executive. Rajesh Shrotriya, CEO of Spectrum Pharmaceuticals, a company that produces cancer treatment drugs, was in the top spot last 12 months, but fell to fourth mostly due to a 60 % pay cut induced by lower stock and option bonuses. We are pretty sure he is able to nevertheless afford a mortgage that is nice though, with an annual cash salary of $10, 108,000.

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