Amaya Becomes The Stars Group after Planned Rebranding

Amaya Becomes The Stars Group after Planned Rebranding

Canadian online gambling giant Amaya announced previous today so it has finished its rebranding that is planned as Stars Group and also the relocation of its headquarters from Montreal to Toronto. Additionally unveiled a new logo that is corporate established a fresh site to mark the start of the brand new age in its development.

The company has received the necessary approval from the accountable regulators and will start trading in the Global Select Market under the ‘TSG’ ticker icon as well as on the Toronto Stock Exchange beneath the ‘TSGI’ ticker symbol as from today.

Amaya confirmed its planned name improvement in May. The business is better understood for being parent business of The Rational Group, which in turn has the PokerStars and BetStars online gambling brands. PokerStars, the world’s biggest online poker operator, has generated it self while the Canadian giant’s primary business also it explained formerly that its rebranding as The Stars Group would mainly aim to mirror the success of that one brand name therefore the future growth of its sis BetStars brand.

Many believe Amaya has undertaken that essential change in order to distance itself from its David Baazov past. The businessman, whom found the company in the 2000s and occupied posts that are executive years, happens to be the topic of an insider trading research in terms of the $4.9-billion deal for the purchase of The Rational Group back in the summertime of 2014.

Final February, Mr. Baazov announced that he would make an offer to buy Amaya and take the company private. Nevertheless, he previously to drop those plans as he had been informed concerning the ongoing Autorité des marchés financiers (Québec’s securities regulator) research.

The announcement about Amaya’s finished rebranding and relocation comes at any given time a Hong Kong businessman is increasing their stake within the Canadian gambling business with each and every day passing. Hao Tang, whom, according to his Bloomberg profile, has higher than a ten years of expertise in asset management, investment banking, and enterprise that is mining, presently holds higher than a 15per cent stake in Amaya after having a shares shopping spree that started back March 2017. In July only, Mr. Tang acquired 4,000,000 shares in the ongoing company for over C$88.9 million.

Here it is vital to remember that in accordance with multiple news reports, Mr. Tang is the person behind Goldenway Capital, a business which was revealed among the economic backers to aid Mr. Baazov failed purchase bid back in November 2016.

April it should also be pointed out that Mr. Tang began buying Amaya shares shortly after Mr. Baazov sold off 7 million shares in the company in March, followed by 12 million more shares in early. Put simply, Goldenway Capital’s fascination with purchasing Amaya has not diminished or disappeared completely after Mr. Baazov’s failed offer.