Shares Hit All-Time High of $38.74Published on November 17th, 2014 10:29 pm EST
Shares of Amaya Gaming Group, the owner of Pokerstars and Full Tilt Poker, hit a new all-time high of $38.74 today before pulling back and closing at $36.95. Shares of the company closed up $1.45 (+4.08%) on the Toronto Stock Exchange.
The company reported their Q3 earnings last week - this report was the first since Amaya officially acquired Pokerstars. Highlights of the earnings report were:
-$239 million in revenues
-adjusted net income of $70 million
-diluted adjusted earnings per share of 43 cents
-cash flow from operating activities of $139 million
(note: these numbers are in Canadian dollars)
The company also revealed that their total expenses in the third quarter were $214.41 million, up substantially from the same period the year before. These expenses included the closing costs for the Oldford Group acquisition.
Shares of Amaya Gaming are up over $2 since the release of their Q3 earnings report and have nearly doubled since the Pokerstars acquisition was first announced.
Pokerstars recently made the unpopular decision to increase their rake and it will be interesting to see the impact of this decision when their next earnings report is released early next year.
Filed Under: Other Poker News