Amaya Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Reconfirms Earnings Guidance for the Full Year of 2017
For the full year of 2017, the company reconfirms its previously announced 2017 full year financial guidance ranges and continues to expect the following: revenues of $1,200 million to $1,260 million; adjusted EBITDA of $560 million to $580 million; adjusted net earnings of $400 million to $430 million; and adjusted net earnings per diluted share of $1.94 to $2.13. These estimates reflect management's view of current and future market and business conditions, including assumptions of (i) the cessation of real-money online poker offering in Australia by the end of June 2017 (previously believed to be April 2017), (ii) the introduction of Amaya's previously disclosed cross-vertical customer loyalty program, (iii) no other material adverse regulatory events and (iv) no material foreign currency exchange rate fluctuations, particularly against the Euro which is the primary depositing currency of Amaya's customers, that could negatively impact customer purchasing power as it relates to Amaya's U.S. dollar denominated product offerings. Such guidance is also based on a Euro to U.S. dollar exchange rate of 1.06 to 1.00, unaudited expected results and certain accounting assumptions.