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Amaya Poker Revenue Falls 11 Percent In Q1

Company Raked $216.4M Through First 3 Months Of 2016

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Amaya Gaming’s revenue from poker on PokerStars and Full Tilt in the first quarter of 2016 fell 11 percent compared to the same period a year ago, according to the company’s Q1 earnings presentation released Monday.

Revenue from poker was $216.4 million from the first three months of the year, down from $242.8 million a year prior. Total company revenue grew to $288.7 million, up six percent from $272.3 million in Q1 of 2015. Poker revenue as a percentage of Q1 total revenue fell from nearly 90 percent last year to 75 this year.

The company’s brands control roughly 71 percent of the worldwide online poker market.

Amaya’s casino and sportsbook revenue grew 267 percent year-over-year to $60.1 million.

A whopping 64 percent of its revenue came from the EU. The Americas represented 13 percent.

In the United States, PokerStars is only available in the state of New Jersey. Amaya launched the PokerStars platform in the Garden State on Mar. 21.

“Poker revenue [was] lower year-over-year due to customers playing with a smaller deposit base during Q1 2016 versus Q1 2015, a decline in activity on Full Tilt and cannibalization from casino,” the company said.

Full Tilt and PokerStars merged player pools this month. In addition to that move, Amaya plans to grow poker by “continu[ing] to innovate and reinvigorate the game with an emphasis on the recreational player.” It is also anticipating being able to re-launch PokerStars in Portugal later this year.

Amaya said that poker revenue in April was $73.6 million, which was nearly unchanged year-over-year. PokerStars accounted for 46 percent of New Jersey online poker revenue in April.

Another interesting figure in the earnings report was that Amaya spent $3.35 million on lobbying and legal expenses in the United States in Q1 2016, down from $4.09 million in the first quarter of 2015. In addition to pushing for online poker in California, Amaya is lobbying for legalized online gambling in Michigan.