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BankrollMob Poker News

nov
17

PokerStars CEO to Raise up to $2.5 Billion to Fund Acquisitions if Needed

Tags: PokerStars, Rafi Ashkenaz, The Stars Group Inc.
Posted on Friday, November 17, 2017 by "T".

Based on a recent interview with Reuters on November 14, the parent company of PokerStars is going to raise billions of dollars so that it can fund an acquisition buying spree.

Rafi Ashkenazi, CEO of The Stars Group Inc., the parent company of PokerStars, is currently looking for ways on how to expand the company (The Stars Group is formerly called Amaya). Ashkenazi actually took over the company right after David Baazov got slammed with criminal charges of insider trading, and he claims that The Stars Group could potentially raise up to $2.5 billion to fund acquisitions if needed.

According to Reuters, "Stars Group has about $255 million of cash and reduced its debt by $515 million in the last one year, giving it enough leverage to turn acquisitive. Talks are already underway, but Ashkenazi did not name the companies involved."

Even though Ashkenazi did not say exactly which companies were involved, The Stars Group attempted to acquire UK bookmakers William Hill a year ago, but was unsuccessful.

The Stars Group expects poker to be its biggest revenue generator for the next five years.

It looks likely, given PokerStars' success on the online poker industry, that they shall be looking to acquire companies that mainly focus more on sports betting and online casino games. Since PokerStars is aiming to become much more like a full-fledged online gambling company, therefore it makes sense that a major acquisition will definitely speed up this transition.

Source:
http://www.reuters.com/article/us-starsgroup-offering-debt/pokerstars-owner-could-raise-up-to-2-50-billion-for-ma-ceo-idUSKBN1DD2SK

 


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20 comments for "PokerStars CEO to Raise up to $2.5 Billion to Fund Acquisitions if Needed"

 doubletop77711/17/2017 10:15:00 AM GMT
When you hear of these sorts of amounts being talked about, it really is frightening just how massive the gambling industry is. PokerStars really are becoming the major force in this industry
 CALICUL11/17/2017 1:53:25 PM GMT
I hope they do not succeed in this plan. They always want to make changes for their benefit but to the disadvantage of the players. A few days ago, i posted a comment about Chris Ferguson that he took some money from the players' accounts but The Stars Group will use the players' money to buy these acquisitions? I hope they will not do anything illegal.
 pajalnick11/17/2017 6:36:56 PM GMT
According to Reuters, "Stars Group" has about 255 million dollars of cash and reduced its debt by 515 million dollars over the past year .................. reduced its debt by 515 million dollars for the last year ????????????????? ....... as it is not very attractive? .... or Google interpreter incorrectly translated?
 shokaku11/17/2017 6:41:57 PM GMT
Taking players money was never mentioned. They just have a high enough credit line, so they could go on a shopping tour, if they wanted. And against that amount of money, any resistance by the target company will be diffficult.
 Mober11/17/2017 10:16:09 PM GMT
Too much money involved. Seeing it is going good, it wouldnt being a surprise to be bought.
If that happens will it be better for the players, or they will follow a different model,
so that they can get back their money faster? That will have more bad reactions,
reversing the numbers.
 pochui11/18/2017 9:48:08 AM GMT
well I do not really see big advantage in acquiring online casinos, or to be precise companies that are operating online casinos- not so hard to acquire new customers just by offering a really good set of promotions on a regular basis. maybe different story bout sports betting- especially if a company like William hill is to be acquired, since it has a ton of brick and mortar locations too.
 Ingrind3311/18/2017 11:46:17 AM GMT
hahaha, look at that guys face, he looks so sneaky. If you want to understand why big business are inhuman is because the people on top and in the middle are inhumane. Do you really think this guys cares about the poker world? he cares about the profit world. This kind of people are the same kind of people who let the rain forest cut down. people want to make money and they abuse the planet and its people. in case one of you guys get rich, share and care! and help save the planet! Thumbs Up
 CALICUL11/18/2017 2:55:47 PM GMT
Posted by pajalnick:
According to Reuters, "Stars Group" has about 255 million dollars of cash and reduced its debt by 515 million dollars over the past year .................. reduced its debt by 515 million dollars for the last year ????????????????? ....... as it is not very attractive? .... or Google interpreter incorrectly translated?


I do not think this article is related with google translate or Google interpreter but something is weird here. What debt is here? Normal debt or other debt? I knew this online camera is profitable but the method of The Stars Group to destroy poker players is one that makes you believe that something is wrong.
 pajalnick11/18/2017 6:04:00 PM GMT
Rafi Ashkenazi this name personally does not inspire confidence in me .... of course this is just a business and a surname corresponds to a businessman .... but business is primarily interested in profits and it seems to me that in the end it will not be good for ordinary players ... it's my opinion
 TheMachineQC11/18/2017 6:48:13 PM GMT
I think it's a little depressing to see that most consumers don't care about how greedy a company is and just keep feeding them more cash eventhough they make it clear that all they want is your money. It's kind of like the May/Mac fight, lots of people just don't care and want to be entertained no matter what. Capitalism is a problem worldwide and we're just letting it happen. Money should be used to do good, not just try to make more of it when you're already rich. But all companies always want more profit, and companies have leverage on governements and get away with stuff a regular citizen can't. Something is fucked up in our system and our mentalities, and it's probably gonna come later to bite us in the ass.
 Gerimantas11/18/2017 8:23:38 PM GMT
I liked pokerstars and pkayed in this room cor many years, but then amaya is the owners and all change and not cor good and now promotions are bad, players number smaller and software is bad, I use older computer and software is make pc slower and i just want to use old pokerstars and if they just do what worked so many years they are in big business again
 Mober11/18/2017 10:42:08 PM GMT
How bad is that computer of yours that cant handle the software.
Even too old computers, could run the pkr software at some poin.
It was way too laggy, but if you take in mind how heavy it was, compared to the rest.
Maybe it time to invest something in upgrading. Just a RAM upgrade can make wonders.
 DaCapo7111/19/2017 12:11:09 PM GMT
The Stars Group want to expand more and more, but i´m not sure if that a good idea or not. Because the changes in the last years are bif and not even good. The Basic was poker i think and i hope they don´t Forget it to offer interesting promos in the future.
 CALICUL11/19/2017 4:11:17 PM GMT
Posted by Gerimantas:
I liked pokerstars and pkayed in this room cor many years, but then amaya is the owners and all change and not cor good and now promotions are bad, players number smaller and software is bad, I use older computer and software is make pc slower and i just want to use old pokerstars and if they just do what worked so many years they are in big business again


I do not think there is a chance as pokerstars return to the old software that was much better. They have put money in this new software and not interested in the player's opinions. The Stars Group (amaya group) should make a pokerstars 8 with very good software in the next 2-3 years. We see if this happens.
 Gerimantas11/19/2017 7:13:53 PM GMT
Yes my computer is old but that change nothing because pokerstars old software was very good and at this time all people like it and pokerstars was most popular poker room. And i can play all tables i want and it runs super. Now not the situation and why this? Why make new version that is not as good as old
 pochui11/19/2017 8:01:55 PM GMT
to be honest now when I re-read the tile- 2.5 billions of dollaros does indeed sound a whooping amount of money and we are talking about virtual gambling operator here, not brick and mortar casinos where real estate is the major asset... kinda crazy money being thrown towards gamling industry
 Mober11/19/2017 11:00:31 PM GMT
Features of the games must be the same. It all comes to what the players like in the old
software, and what they like or hate on the new one.
Since we are talking for the specific brand, i doubt there are any bugs with the client.
They will always make new versions and updates. Everywhere.

Like in hotmail for example, that i dont like at all how it is right now.
 dule-vu11/19/2017 11:49:43 PM GMT
wow,this is a lot of money to buy some company,even we dont know which one they want to buy!but with this transaction,they want to be largest at this kind of business,so that others cant be near of them!we will see what will happen!
 CALICUL11/21/2017 4:28:25 PM GMT
Posted by Gerimantas:
Yes my computer is old but that change nothing because pokerstars old software was very good and at this time all people like it and pokerstars was most popular poker room. And i can play all tables i want and it runs super. Now not the situation and why this? Why make new version that is not as good as old


The amaya group made this choice without thinking. Too many mistakes for for these people who changed their name with The stars group. Stars is not stars is amateurs. I'd like to change something good there but i do not think it's possible because they do not have great experience in these things with software or another good thing.
 Tony_MON7ANA11/22/2017 8:04:18 AM GMT
At around this time last year, William Hill, the top United Kingdom bookmaker, and PokerStars, the largest online poker site in the world, were negotiating a £5+ billion merger deal. Yup, £5 billion, which was approximately US$6 billion at that time. That's a hell of a lot of money!

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