Amaya Gaming Reports Record Revenue
PokerStars parent company Amaya Gaming announced record revenue during 2016. Despite the revenue increase overall, the company reported that 4th quarter revenue for poker was down 5.1% year-over-year to $217.2 million. However, when adjusting for exchange rate fluctuations, poker revenue declined just 1% for the quarter and was flat for 2016.
Although PokerStars reported a relatively flat year for poker, casino activity at the company exceeded expectations, accounting for the overall gain in revenue. Poker now accounts for 73.2% of Amaya Gaming’s overall revenue, down from 82.7% during 2015. PokerStars still owns around 70% of the worldwide market and boasts 100 million registered users.
Amaya Gaming noted that it has seen a positive impact from a renewed focus on recreational players. In addition to a revamped VIP program, PokerStars has recently updated its rake structure and made other adjustments such as adding recreational-player friendly games and promotions.
Amaya Gaming stock was up $0.40 after reporting earnings to close at $15.75, a gain of 2.61%.
– Move over, poker. Fedor Holz and Patrik Antonius have been moonlighting for Noëtics, a high end clothing company that focuses on hoodies designed for the fashion-conscious poker player. Below is a recent spot featuring Antonius.
– Move over, Fedor Holz. Steve O’Dwyer has won another High Roller tournament at the PokerStars Championship Panama. This was his eighth major High Roller event win since May of 2013, with his last victory being the $100,000 Aussie Millions Challenge in January of 2016.
– Party Poker and Borgata Poker are struggling in New Jersey. Nowhere is this more evident than the latest Garden State Super Series. While October’s GSSS V featured $1.1 million over 75 events, GSSS VI is guaranteeing just $265,000 over 11 tournaments. The tournaments held thus far are barely meeting the guarantee with some even yielding overlays. Party/Borgata market share in New Jersey has declined from over 50% in January 2016 where it has settled around 30% since March of 2016 — the month PokerStars launched in New Jersey.
– GrinderSchool’s “How to Master MTTs” Free Training Video Season 2 is up. Watch episode 1 of 12, which covers an introduction to MTTs, resources, HUD use and bankroll management.