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mar
10

Former Amaya CEO David Baazov Sells $98.6 Million Worth of Stocks

Tags: Amaya, David Baazov, Stocks.
Posted on Friday, March 10, 2017 by "T".

Amaya's ex-CEO David Baazov has sold seven million common shares amounting to $98.6 million. Baazov founded the Montreal-based gaming company and once acted as its CEO, but encountered legal troubles.

The sale leaves Baazov's with 17.6 million shares. This represents a 12.1% overall stake in the company's issued and outstanding common stock.

Baazov made a bid to buy PokerStar's parent company last year for around $4.1 billion to which he later withdrew the offer.

The former CEO has been charged by the Autorité des marchés financiers, Quebec's securities regulator, with multiple counts of illegal insider trading, including stock manipulation. The charged is said to be in connection with Amaya's $4.9 billion acquisition of Rational Group. He pleaded not guilty on the charges filed against him.

Amaya has confirmed it has repriced and retrenched its US dollar and Euro denominated first lien term loans and has revised the applicable credit agreement. This repricing will enable the company to save $15.4 million of interest expense on loan each year.

Source:
http://www.igamingbusiness.com/news/baazov-sells-c133m-amaya-shares

 


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21 comments for "Former Amaya CEO David Baazov Sells $98.6 Million Worth of Stocks"

 waoz3/10/2017 12:06:06 PM GMT
Money is power ... power moves the world.
 Ingrind333/10/2017 12:10:51 PM GMT
hahahaha, look at that sneaky face.. hahahahaha what a donk.
 Gerimantas3/10/2017 1:41:21 PM GMT
Wow these guys are rucb, I would like to have evn one million and this isnenough for me to sit and do nothing, now people like him are doing operations with millions of dollars so often that it probably means nothing to them. Good businessmen.
 pajalnick3/10/2017 2:12:30 PM GMT
Really face scum .... it's certainly not very nice to count money in someone else's pocket but me from similar news a little spoils the mood ..... what did this man do to make money ??? Did he do something for this, or was he just lucky?
 pochui3/10/2017 7:44:10 PM GMT
so what. dude decided to sell almost $100 millions worth of stocks, what's the big deal here... for example moi today sold ~40 empty bottles from beer for a whooping total of 4 euros, why this is not on the news? is there someone who i should contact, like pr department or sth like that, i want the world to know about my transactions.
 Mober3/10/2017 9:29:33 PM GMT
Got a nice return from all that share selling.
And still has more to "dump" Smile
Was wondering what the name reminded me of.
It was a recent post about his legal problems with insiders trading.
Was that all he has done so far? Smile
 doubletop7773/11/2017 10:00:13 AM GMT
The amounts of money being bandied about is astronomical and mind boggling. If i had this kind of money, i would just buy myself a nice desert island and never be seen again in a boardroom
 pajalnick3/11/2017 2:10:09 PM GMT
Posted by doubletop777:
The amounts of money being bandied about is astronomical and mind boggling. If i had this kind of money, i would just buy myself a nice desert island and never be seen again in a boardroom

Maybe for this person the whole point of his life is to get money .... more money .... even more money .... MORE MONEY .... I certainly do not know this person and maybe I'm wrong but is it often There are stories when a person does like you said? Confused
 StheP3/11/2017 2:15:57 PM GMT
Posted by pajalnick:
Posted by doubletop777:
The amounts of money being bandied about is astronomical and mind boggling. If i had this kind of money, i would just buy myself a nice desert island and never be seen again in a boardroom

Maybe for this person the whole point of his life is to get money .... more money .... even more money .... MORE MONEY .... I certainly do not know this person and maybe I'm wrong but is it often There are stories when a person does like you said? Confused

you dont know David baazov... he was the boss of pokerstars... he made changes in new vip program and all that bullsht...
 Odysseus1013/11/2017 9:10:22 PM GMT
The French are not to be trusted!
 Mober3/11/2017 9:41:24 PM GMT
He wont have any problem.
If anything goes wrong he will flea to an exotic island also, enjoying there his millions.
Not the first or the last doing this. We saw the article with the one going back for his trial.
 bowie19843/12/2017 2:12:21 AM GMT
Posted by pochui:
so what. dude decided to sell almost $100 millions worth of stocks, what's the big deal here...

Nothing dude - just another white collar criminal getting a celebratory payday. Probably this sold percentage was his golden parachute money which he was getting after he got offed as a CEO.
 Tony_MON7ANA3/12/2017 10:04:45 AM GMT
After he sold 7 million Amaya Inc shares (presently valued at around US$19 per share) the other day, he still holds Amaya stock worth over US330 million (US$19 x 17,600,000). I wonder whom he sold these 7 million shares to.
 pinotte3/12/2017 3:07:40 PM GMT
Posted by Odysseus101:
The French are not to be trusted!


WTF french as to do with this thread. Question Question

David Baazov is Jewish and lives in Montréal.

Now here in Canada you are not guilty of a crime until you found guilty by a judge or a jury.

At this time he was charged and never went to court yet so will see the verdict of the court and if he is guilty then you could call him whatever you want.

Just wait after the court decision like i said until then he is not guilty of any crime.
 TheMachineQC3/12/2017 9:24:15 PM GMT
"The former CEO has been charged by the Autorité des marchés financiers, Quebec's securities regulator, with multiple counts of illegal insider trading, including stock manipulation. The charged is said to be in connection with Amaya's $4.9 billion acquisition of Rational Group. He pleaded not guilty on the charges filed against him."

Wow... No wonder pokerstars is sh1t since Amaya bought it. I barely play there anymore since there's no good bonuses/challenges. Corruption is everywhere, sadly! Sad
 Mober3/12/2017 9:53:37 PM GMT
The thing with the : you are not guilty until proven in court, is the same all over the world.
But we all know its a bunch of baloney. Smile
Havent you seen, or know of guilty people getting a free pass for some reason.
And not only cause of the loopholes, they can find.
 pinotte3/13/2017 2:10:23 PM GMT
If you don't have confidence in the justice of your country you have a very big problem.

Yes we all know that some are cheating all their lives and don't get caught or are getting out cause of loopholes. But in my country i believe in justice which is even over the government.

It is not my country but you have seen recently in the U.S.A that a law pass by Trump was rejected by the justice.
 Mober3/13/2017 10:10:39 PM GMT
Please pinotte dont make this "personal" countrywise.
It is not my country and you know that.
This happens everywhere, unless you are too blind to see it.
Justice is blind they say isnt it? Smile

And im not talking about big cases, im talking for all of them.
But i guess you dont know anyone in canada, that belongs behind bars while being out, free Smile
 TheMachineQC3/13/2017 11:12:24 PM GMT
Posted by Odysseus101:
The French are not to be trusted!


Ah, I missed that post. That old grudge between french and english Canadian, will it ever end?

Cavemen used think that way. It led to the extermination of Homo Erectus Blink

Obviously corruption is everywhere and has nothing to do with language. Don't buy in the political BS that politicians try to sell you... They're manipulating you to think that the problem isn't the political class. They're the one with the power, doing shit with it. So blame it on them instead of a way to talk.
 DaCapo713/18/2017 10:02:40 AM GMT
It seems he have the knowledge to make the right big deals. And it was interesting that he buy shares of the parent company from Poker Stars, it show us that he expected new deals in the future to make more and more money.
 damosk3/18/2017 12:25:49 PM GMT
Make a good deal and try and make even more money opens up all sorts of opportunities whether legal or otherwise, the trick is making the ultimate correct and legal decision. The problem being preoople with stuff invariably want more stuff and will take risks to get it. Let's see what the outcome of his hard endeavours is.

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