Key Takeaways
- Amaya’s unaudited financials show PokerStars and Full Tilt player deposits on June 30 at CA$646.7 million with cash and cash equivalents listed at CA$917.2 million.
- The Rational Group keeps all player funds in trust accounts segregated both from operations and protected from insolvency.
- The transaction shows that Amaya is now carrying a total of CA$5.2 billion in acquisition related intangible assets and goodwill, out of total assets of CA$6.8 billion. Deduct the intangibles and the player funds from total assets and other assets add up to just CA$941 million.
- The detailed numbers Amaya has presented show a very audacious transaction, but the historical figures from the Rational Group accounts look very robust.
- Profits of $218.4 million on revenues of $567.9 million for the first half of 2014 show a profit margin—after gaming and other taxes—of 38.5%.
When Amaya bought Ongame from bwin.party in November 2012, pokerfuse pointed out that Ongame’s cash position accounted for less than 31% of player deposit liabilities—the acquisition financials for PokerStars released by Amaya show a much healthier position.
Amaya’s unaudited financials show PokerStars and Full Tilt player deposits on June 30 at CA$646.7 million with cash and cash equivalents listed at CA$917.2 million.
For the Ongame transaction, the balance sheet relied on intangible assets to offset the liability for player funds—the Rational Group keeps all player funds in trust accounts segregated both from operations and protected from insolvency.
