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.
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.
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David Baazov Posted on 14 November 2016 by "T".
David Baazov, former chief executive of Amaya Inc, has offered to buy the entire company for about C$3.48 billion ($2.56 billion) or about C$24 per share - 30.9% more than Friday's close of C$18.34.
Montreal, Canada - The Amaya online gaming company announces a huge profit jump as well as making a permanent replacement for its former CEO David Baazov, who early this year stepped aside to deal with the charges laid against him by Quebec's securities regulator.
Quebec's securities regulator Autorité des Marchés Financiers (AMF) have filed insider trading charges against Amaya CEO David Baazov and 13 others, including Baazov's brother and Amaya adviser Yoel Altman. In total, 5 charges were made against David Baazov following an investigation of the $4.9 billion acquisition of PokerStars and Full Tilt by Amaya in 2014.
Last week, in a conference call with investors, Amaya CEO David Baazov said that the company (PokerStars) is aiming to double the poker business in the next five years.
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.
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.
