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

Mon May 16, 2016 5:48pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Adds details)

May 16 (Reuters) - PokerStars owner Amaya Inc's 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.

(Reporting by Vishaka George in Bengaluru; Editing by Sriraj Kalluvila)