The announcement that Amaya Gaming was going to purchase the Rational Group was quite a big one in the poker industry and operators to players have been watching the latest news and developments of the deal. According to a recent report by Pokerfuse, regulators have given approval of the deal so Amaya can now complete the purchasing process.
With Amaya taking over as the owner of the Rational Group, approval was needed from the operators who have a license with Rational. As the top provider of online poker, Rational does business in almost every country in the world. With several licenses in Europe, and PokerStars offered in many countries, the group needed to see operators okay with the potential new owner.
Just last week ARJEL approved the change saying that the new ownership would not affect the areas in which online poker is carried out. In the US, the impending acquisition has allowed for the online poker license application of PokerStars to be reviewed and could see the poker giant entering the US very soon. With the owner change, certain restrictions that were placed on PokerStars when their application was suspended could potentially be removed.
In most cases, when a company takes control of an online gaming business, the new owner must be approved by the regulators before being allowed to take over, as the case with Amaya Gaming. To be approved, Amaya has to provide information in document form that covers the financials of the company as well as their experience in the industry. The company must then be deemed suitable to take over by the regulators, which is what has been taking place across the globe.
According to a press release of the company, Amaya has also received conditional approval from the Toronto Stock Exchange for the transaction. This approval includes the listing of components that would be used for the financing of the transaction with Rational Group. Once Shareholders of Amaya give approval, the completion of the deal should be well on its way.
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