Announcing Amaya Inc 2015 full-year results, which saw the operator post net losses of CAD $25 million (£14 million), CEO David Baazov updated the market on his proposed management takeover of the firm. Baazov alerted the media that his executive team intends to make a formal bid to take Amaya assets private, though no timeline for the announcement of the …
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Baazov may seek rival investment for Amaya takeover
Bloomberg Business News has reported that Amaya Inc CEO David Baazov may look to partner with outside investors in order to fulfil his proposed management takeover of the firm. At present Amaya Inc has appointed a special committee advised by Barclays Capital to review Baazov’s CAD $21 per common share cash offer. Issuing a corporate statement this week, Amaya’s board …
Read More »Amaya issues committee update on Baazov takeover proposal
Toronto-listed Amaya Inc has issued a corporate statement updating the market on its appointed special committee reviewing the management buyout offer put forward by current CEO and Chairman David Baazov. Amaya informs that to date its board has not received a formal proposal by Baazov and his executive regarding the takeover of the company. The independent committee advised by Barclays …
Read More »Scott Longley – D’oh Canada…Toronto turns against gaming stocks
Toronto listed gambling investment firms buying industry assets in 2014 & 2015 were branded as game changers for the sector. In 2016 business-wide scepticism and criticism has grown of these merged enterprises and their governance, Scott Longley examines how and why opinion has turned on these new Canadian giants. ________________________________ David Baazov, the chief executive of Amaya, may be intent …
Read More »Amaya appoints Barclays Capital to review Baazov bid
Toronto listed Amaya Inc has confirmed the appointment of Barclays Capital Canada to act as corporate financial advisor with regards to the CAD $2.8 billion (£1.4 billion) management buyout proposed by CEO David Baazov. On 1 February Amaya governance confirmed that it had set up an independent committee to asses Baazov’s takeover proposal. The buyout proposal sees Baazov aim to …
Read More »Baazov submits takeover proposal for Amaya Inc
Toronto (TSX) listed operator Amaya Inc has today issued a corporate statement detailing that current CEO and Chairman David Baazov has submitted an all-cash deal to takeover the company. Amaya’s Board of Directors will now create a special independent committee to review the forthcoming proposal by Baazov which is estimated to be offering CAD $21 (£10-11) per common share, representing …
Read More »Amaya Inc – David Baazov confirms BetStars brand
David Baazov CEO of Amaya Inc has confirmed that subsidiary PokerStars will launch a sports betting product under the brand BetStars.com The confirmation by Baazov follows last weekend’s speculation that Amaya Inc were preparing to launch a sports betting focused product, having acquired multiple domain names connected to the brand term BetStars.com. Presenting Q3 2015 performance figures, Baazov detailed that …
Read More »Amaya continues 2015 growth despite external headwinds
Reporting on its Q3 2015 corporate performance (period ending 30 September), Toronto listed Amaya Inc has reported quarter revenues of CAD $325 million (£160 million) up 8% on Q3 2014’s CAD $300 million. Revenue growth would transfer to EBITDA earnings of CAD 141 million (£70 million) for the period, up 8% on Q3 2014’s CAD $ 130 million. Amaya Q3 net …
Read More »Amaya – New Jersey DGE grants approval of PokerStars & Full Tilt brands
Amaya Inc has this morning announced that the New Jersey Division of Gaming Enforcement (DGE) has approved its operations to offer licensed online gambling services through PokerStars and Full Tilt brands. The long awaited approval marks Amaya Inc’s entry into the US market, a key dynamic for the Toronto listed operators future corporate growth strategy. Amaya brands will be distributed …
Read More »Amaya Inc sponsors Canada Startup Open House
Amaya Inc aims to promote Canadian enterprise innovation by announcing that it will be main sponsor of Startup Open House taking place in the cities of Montreal, Toronto, and Vancouver on 29 October and in Waterloo and Quebec City on 5 November. The event aims to promote aims to promote Canada’s burgeoning start-up scene by welcoming job seekers, business professionals …
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