Poydras claims ‘transformational’ year as finances rocket
Poydras Gaming Finance has revealed significant year-on-year growth across key finances in 2015; a year that represented its first full 12 months as a public company.
Revenue in the year to December 31, 2015, totalled $8.2 million (€7.2 million), which is a considerable increase of 400% on the $1.6 million posted in the previous year.
Adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) amounted to $3.6 million, the first time the gaming services company has been able to record a positive figure for this indicator, while net loss improved from $12.1 million in 2014 to $2.9 million.
The full-year results come after a successful fourth quarter for the firm, during which revenue hiked 547% year-on-year to $3.5 million, with adjusted EBITDA also up to $2.1 million.
Peter Macy, chief executive of Poydras, said: “2015 was our first full-year as a public company and was significantly transformational: we closed on the acquisition of the Integrity Companies, added a 600 machine placement with the Tonkawa Tribe of Indians of Oklahoma, and grew our overall machine deployments to approximately 2,400, from 287 at the end of 2014.
“Our strong growth trajectory built in the last two quarters of the year will continue into 2016, as our results for the first quarter and onwards will fully reflect the 150 machines placed with the Cheyenne and Arapaho Tribes of Oklahoma at their new Lucky Star Hammon facility.
“We are expecting FY 16 adjusted EBITDA to approach $10 million from our existing machine deployments, with further upside potential as we place additional machines.”
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