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UPDATE 1-PokerStars owner Amaya's profit more than doubles

Published 2016-05-16, 05:48 p/m
© Reuters. UPDATE 1-PokerStars owner Amaya's profit more than doubles
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(Adds details)
May 16 (Reuters) - PokerStars owner Amaya Inc's AYA.TO
AYA.O quarterly profit more than doubled as the company added
customers, expanded its online casino offerings and invested in
its online sportsbook.
Amaya, which received a go-private proposal from Chief
Executive David Baazov in February, said on Monday its special
committee was still reviewing strategic alternatives.
The Canadian gambling website operator said customer
registrations increased by 2.5 million to about 102 million in
the first quarter ended March 31.
Net earnings from continuing operations rose to $55.5
million, or 28 cents per share, from $23.3 million, or 12 cents
per share, a year earlier.
Revenue rose 6 percent to $288.7 million.
The company said it changed its reporting currency from
Canadian dollar to the U.S. dollar in the quarter.
Baazov, who has been charged with insider trading by
Quebec's securities regulator, has been on an indefinite paid
leave since March.
A U.S. investor in March sued the company accusing it of
defrauding shareholders by concealing insider trading conducted
by Baazov.

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