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Amaya Inc. to rebrand as “The Stars Group Inc.”
Tags: Amaya Inc, David Baazov, PokerStars, The Stars Group Inc.
Posted on 16 May 2017 by "T".

Amaya Gaming, PokerStars' parent company, has announced its plan to rebrand to "The Stars Group Inc, due to a very successful first quarter of 2017. It has also announced their intention to relocate to Toronto from Montreal. Both of these decisions shall be subject to shareholders' approval next month.

These decisions have come to light as the group declared revenues in the first quarter of 2017, $317.32 million, which is a solid 10% increase on the same quarter last year.

The company will relocate its head office after it hires a replacement for chief financial officer who has recently announced his retirement.

Chief Executive Rafi Ashkenazi, who replaced founder and CEO David Baazov last year, has been building up Amaya's management team, reducing its exposure to online professional poker players and playing down their debt.

David BaazovHe said on Friday at a conference call, "As we undergo this transformation, we look to embrace the future of our business while also recognizing the incredible consumer goodwill and loyalty associated with our primary brand."

Poker constitutes 69% of Amaya revenues in the first quarter of this year, as compared to 75% last year. Online sports betting and casino games rose to 27% from 21% in the first quarter of 2016.

Ashkenazi has just hired a William Hill executive to take care of acquisitions and mergers, and he is also in the final phases of hiring a successor to CFO Daniel Sebag who announced his retirement in January. His replacement shall most likely be a resident of Toronto.

By changing the name that Baazov has given to the company and moving to Toronto, it would seem that the negative traces of his management have been tossed aside. Even if he sold 7 million shares for $133 million this year, Baazov still possesses 12% of the company.

Since Baazov founded it in 2004, Montreal has always been Amaya's main headquarters. Ten years after purchasing the PokerStars parent for US$4.9 billion, it has become the world's biggest publicly-listed online poker brand.

Source:
https://www.highstakesdb.com/7856-amaya-inc-to-become-the-stars-group-inc.aspx

 

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8 comments on "Amaya Inc. to rebrand as “The Stars Group Inc.”"


 doubletop77716/05/2017 07:59:13 GMT
Amaya is the biggest name in the poker gaming world and the amounts of money being gambled on their sites is astronomical. It is nice to see that Poker is still thriving and long may it continue to do so
 Robbo199016/05/2017 09:18:48 GMT
when will this mean better freerolls?
 DaCapo7116/05/2017 09:44:14 GMT
Ok Amaya changing the name and replaced their headquarter, but what is the different for the poker community? Stars is the biggest name in the poker business and everybody know that. And that the sport betting and casino games risen up to 27 percent was verry interesting, but poker was the no. 1 Blink
 crankmuppet16/05/2017 13:41:10 GMT
The release above probably came directly from Amaya's marketing division. Below is a news article written in a major Toronto newspaper. Slightly different spin from their marketing machine.

Either way looks like more belt tightening and less for free for PokerStars players, while attempting to increase value for Amaya shareholders.


Toronto Star13 May 2017SANDRINE RASTELLO BLOOMBERG

MONTREAL— PokerStars owner Amaya Inc. is renaming itself The Stars Group Inc. and relocating to Toronto, part of CEO Rafi Ashkenazi’s efforts to transform the online gambling company after a difficult period.

Promoted after founder David Baazov stepped down amid insider trading charges and poor earnings performance, Ashkenazi is working to pay down debt, install a new management team and lessen the company’s exposure to the unstable online-poker business. Amaya just hired an industry veteran from William Hill Plc to focus on mergers and acquisitions, which Ashkenazi has said could play a central role in the second half of the year.

Deals could help Amaya diversify beyond poker, which made up 69 per cent of the company’s total revenue in the first quarter, compared with 75 per cent a year earlier. In a sign Ashkenazi’s efforts may be working, online casino games and sportsbook accounted for 27 per cent of sales, up from 21 per cent.

The company also managed to post its first increase in revenue from poker in three quarters, fuelling earnings that topped analysts’ estimates.

Amaya will seek shareholder approval for the name change at its annual meeting, according to a statement Friday. The company is currently based outside Montreal.
 Mober16/05/2017 19:26:39 GMT
Almost 320 millions for first quarter. Not bad Smile
And that is why all site, that didnt have before, have added casino and sports betting.
I would never expect that from the revenues they had, only the 69% was from poker.
And while it was less from last year, in total they had an increase in revenue.
 3pokeronly17/05/2017 01:17:16 GMT
I am going to re-brand meself, 4P.

Thoughts?
3p out
 Robbo199017/05/2017 02:20:43 GMT
Posted by 3pokeronly:
I am going to re-brand meself, 4P.

Thoughts?
3p out


does that mean you will live 4 p? Blink
 pochui17/05/2017 19:10:16 GMT
"Amaya Gaming, PokerStars' parent company, has announced its plan to rebrand to "The Stars Group Inc, due to a very successful first quarter of 2017." - so if i understood this right the sole reason for the rebrand was successful 1st quarter, no other reasons needed, therefore if next year they have a successful 1st quarter again, we should expect another rebrand.

------------
Posted by 3pokeronly:
I am going to re-brand meself, 4P.

Thoughts?

nah, better take microsoft's approach with windows os and skip a number or two- 5P, maybe even 69P

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