January 20, 2017 / 12:58 PM / in 10 months

Amaya raises 2016 adjusted profit forecast

(Reuters) - Canada’s Amaya Inc AYA.TO raised its 2016 adjusted profit forecast, citing better-than-expected results in the fourth quarter ended Dec. 31, helped by its casino games and a successful relaunch in Portugal.

The logo of gaming company Amaya Inc is seen at its head office in Montreal June 22, 2015. REUTERS/Christinne Muschi/File photo

The gambling website operator now expects 2016 adjusted profit of $364 million-$374 million, higher than its previous forecast of between $344 million and $354 million.

Amaya, which owns gambling websites PokerStars and Full Tilt, also raised its 2016 adjusted earnings forecast to a range of $1.87-$1.92 per share from $1.78-$1.83.

The company said it expects revenue of $1.15 billion to $1.16 billion for 2016, as compared with its previous forecast of $1.14 billion to $1.16 billion.

“We anticipate that 2016 will be a record year of revenues for Amaya,” said CEO Rafi Ashkenazi in a statement.

Amaya also said Chief Financial Officer Daniel Sebag would retire later this year once his successor is identified and appointed.

Reporting by John Benny in Bengaluru; Editing by Martina D'Couto

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