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Amaya Gaming Expands, But Ends in the Red year

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Amaya Gaming Expands, But Ends in the Red year

Montreal-based Amaya Gaming Group Incorporated, an entertainment solutions provider for the gaming industry, has released results that are financial an increase of simply below 292 % in overall profits for the final three months of 2012 to $37.19 million (Canadian).

The video gaming firm announced that its adjusted earnings before interest, tax, depreciation and amortization for the fourth quarter of final 12 months reached $16.74 million, showing a year-on-year enhance of around 391 per cent. However, the net profits of Amaya Gaming fell from a revenue of $2.88 million for the period that is same 2012 to $711.309 in debt.

Loss and profit

Amaya reported a general enhance of almost 316 per cent in revenues year-on-year to $76.43 million, and revealed total earnings of $23.11 million before interest, income tax, depreciation and amortization, but regardless posted an overall company loss of $7.11 million for 2012, increasing the deficit of $1.92 million of 2011.

‘ The past year has been transformational for Amaya,’ explained president and chief executive officer for Amaya Gaming, David Baazov. ‘We expanded dramatically in Europe by increasing the licensee base of our subsidiaries Chartwell and Cryptologic. Cryptologic went from a loss that is net 1st half of 2012 to a significant contributor of income for Amaya Gaming by the conclusion of 2012.’

He went along to explain that Amaya Gaming also acquired gaming machine supplier Cadillac […]

German Banker Accused of Stealing Millions to Fund Gambling Habit

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German Banker Accused of Stealing Millions to Fund Gambling Habit

A German banker is component of a brand new trend of high-dollar gambling thefts

It’s nothing a new comer to hear about people money that is stealing purchase to spend it on gambling. Nonetheless, it’s rare that the theft ever gets this big. A 39-year-old German bank worker is accused of stealing over €8 million ($10.6 million) from customers, which then he spent at casinos on the program of a long period.

Stole Undetected for Years from Customers

According towards the charges, the man works in Buxtehude, a Northern Germany town that is clearly a suburb of Hamburg. During the period of more than three years spanning between 2007 and 2010 the man stole money from clients’ accounts no fewer than 156 times. He also directly took money that had been given to him by customers to spend. Based on prosecutors talking in Stade District Court, the person even faked customer signatures on several occasions in order to get access for their money.

The amounts stolen varied greatly from customer to client. At some times, he stole only a couple of hundred euros; in the many dramatic cases, several hundred thousand euros had been taken out of accounts at once.

In total, €8.4 million ($11.1 million) was applied for of client accounts over the years. That money was then mostly spent at a local casino in Hamburg.

According to prosecutors, the man that is unnamed already reimbursed €4.5 million ($6 million), alt […]