Amaya Inc revenue soars with PokerStars net loss grows to 267 million

MONTREAL — Amaya Inc. says it had a $26.7-million net loss and $368.6 million of revenue in the fourth quarter, both up substantially from a year earlier, largely because of the Montreal-based company’s acquisition of PokerStars.Amaya’s revenue was nearly 10 times higher than the $37 million recorded a year earlier while its net loss was about four times higher than the $6.8 million recorded in the fourth quarter of 2013.Excluding items and discontinued operations that have been sold or are up for sale, Amaya had $85.7 million in adjusted net earnings, up from $11.1 million in the fourth quarter of 2013.Amaya to sell Cadillac Jack game development unit for $476 million to AGSIntertain Group follows Amaya’s lead in quest to become online bingo kingAmaya Gaming Group stock tumbles after it confirms securities watchdog probing share tradingIts fourth quarter net loss including discontinued operations was 20 cents per diluted share, up from eight cents a year earlier. Adjusted earnings were 42 cents per diluted share, up from 12 cents per share in the fourth quarter of 2013.Amaya has made several major deals, including a recent sale, that are shifting its focus to online games.The company announced Monday it plans to sell its Cadillac Jack casino game business for $476 million. Last week, it announced that it will form a new public company called Innova Gaming Group that will own Diamond Game, which designs and develops games for the North American lottery sector.The moves follow Amaya’s US$4.9-billion deal last June to buy the world’s largest online poker company, operator of popular brands PokerStars and Full Tilt Poker.