UPDATE 1-Amaya posts huge jump in adjusted profit; seeks Nasdaq listing

Tue Mar 31, 2015 9:11am EDT
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(Adds CEO comment, interest in Nasdaq listing, expansion plans)

By Euan Rocha

TORONTO, March 31 (Reuters) - Amaya Inc, which recently acquired online gambling sites PokerStars and Full Tilt, reported a near eight-fold rise in quarterly adjusted earnings on Tuesday, and outlined plans to seek a secondary listing on the Nasdaq.

The Montreal-based company said it plans to win new clients and supplement growth from its core poker business through expansion into other areas such as sportsbetting, social gaming and fantasy sports.

"We anticipate the launch of sports betting in certain markets in the coming days with an expansion across the network to take place through the first half of 2015," said Amaya Chief Executive David Baazov, in a statement.

Amaya said it currently plans to execute on this strategy via both organic development and strategic acquisitions.

Earlier this month, online gambling firm Bwin.party said talks about selling all, or part of its business had become more serious. Media reports last year had named Amaya as one of the parties interested in the poker and sports betting company.

Amaya said it currently anticipates providing an update on the status of its Nasdaq listing application in the near future.   Continued...