David Baazov is the CEO of the Amaya Gaming Group, the owner of the largest online poker site in the world PokerStars. It was recently reported that Baazov is interested in working with a group of investors to take control of the company in a private sale. The group would make an all-cash offer of around $2.8 billion, based on information from a press release by the company.
Amaya Gaming was able to acquire PokerStars and Full Tilt back in 2014 for $4.9 billion, with Baazov now leading the way for Amaya to be acquired by the private investors. In a statement, PokerStars announced a special committee had been created for Amaya to oversee the situation. This was done to ensure that neither group has received or solicited a formal bid or offer that is related to the potential transaction.
There is also no assurance that Baazov’s intention will result in a bid formally announced or an offer or that a transaction will take place at all. Currently, Baazov holds close to 18% of the company. With the news of the offer intention, the stock in Amaya rose by 27% based on early morning reports.
PokerStars is currently preparing to offer online poker gaming in the United States in the state of New Jersey after receiving licensing approval late last year. The company plans on launching in the first half of this year but no exact date has been set. Amaya not only owns the PokerStars brand, which is busy getting ready for their first time back in the US, but also StarsDraft, BetStars, the Latin American Poker Tour, Asia Pacific Poker Tour, European Poker Tour and the PokerStars Caribbean Adventure.
It will definitely be interesting to see if Baazov and the group of investors announce a deal and just how much the gaming company will go for if an offer is made.
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