Shares in Amaya Gaming Group Inc. jumped up 13.86 percent to $2.30 per share following the announcement that the company had been selected as the exclusive provider of gaming systems to the national lottery of Moldova.
Under the terms of the 20 year exclusive contract, Amaya’s technology platform will power the Eastern European state’s gaming operations including lottery, video lottery terminals (VLTs), sports betting and online gaming.
Amaya doesn’t seem to care that Moldova has been called the poorest country in Europe, the company believes the deal can potentially generate revenues in excess of CAD$20.0m annually, which would provide a significant bump up to the company’s total revenues.
David Baazov, chief executive of Amaya Gaming Group said in the release: “We are very pleased to begin a long-term relationship with the National Lottery of Moldova that promises to be fruitful for both parties… We believe our breadth of capabilities was a key reason we were selected, along with our ability to ensure the integrity of the system. While Moldova is the first customer to formally select us for this wide range of gaming activities, our strategy is to expand our relationships over time with new and existing customers by offering more gaming technologies in their jurisdictions.”