There's this software company you may have heard about. Oh, it's no one special. They're only one of the biggest providers of online poker currently around. Amaya, a Canada-based organisation that started from nothing, has grown year upon year since its inception and now many websites such as PokerStars and many other high-profile online poker sites.
Recently, it has come out with reports of an immense surge in all its finances year-on-year despite running into “unexpected challenges”. Why does this matter to the average online poker-player? And why should this matter to anyone else? Because it signifies the ever-expanding growth of this industry and that could mean only good things are to come.
A Force to be Reckoned With
It's now common knowledge that the igambling industry is growing at a rapid rate. Everyday it becomes harder and harder to stand out from the crowd.
But with Amaya, which started out by providing software for PokerStars, has grown with it and has made its money by investing smartly in other enterprises. It has since expanded into sports betting and other ventures as a result.
This has happened despite coming across some “unexpected challenges” according to the company's report, especially in the last financial year. But why should you care about this? How does this affect the everyday online player? Well, with better revenue poured into a company's wallet, the better their output. With more money to play with, they can afford to be more experimental and even create big breakthroughs in technology.
A Growing Customer Base
In their statement, Amaya claimed that new customers were responsible for the large increase in their £102 million profit by the end of the quarter.
That must mean they are doing things right because this is in spite of adversity. This included an alleged insider trading scandal involving the company's CEO.
“During the first quarter, we continued to execute on our growth plans despite unexpected challenges, including management changes and the ongoing strategic alternatives process,” said Rafi Ashkenazi, Amaya's interim chief executive.
One might think this a miracle considering how well-publicized the scandal was but, despite this, it's actually grown. Now that's impressive.