Amaya Becomes The Stars Group after Planned Rebranding

Canadian online gambling giant Amaya announced earlier today so it has finished its planned rebranding because the Stars Group as well as the moving of its headquarters from Montreal to Toronto. In addition unveiled a new business logo and established a brand new web site to mark the start of the newest era in its development.

The company has gotten the necessary approval from the accountable regulators and can start trading regarding the international Select Market under the ‘TSG’ ticker sign as well as on the Toronto Stock Exchange under the ‘TSGI’ ticker icon as from today.

Amaya confirmed its prepared title improvement in May. The organization is better understood if you are company that is parent of Rational Group, which in turn has the PokerStars and BetStars online gambling brands. PokerStars, the entire world’s biggest internet poker operator, has established it self once the Canadian giant’s main business plus it explained formerly that its rebranding once the Stars Group would primarily aim to mirror the success of that particular brand name as well as the future development of its sister BetStars brand.

Many think that Amaya has undertaken that important change in purchase to distance itself from the David Baazov past. The businessman, who found the organization within the 2000s and occupied posts that are executive years, is currently the main topic of an insider trading research in relation to the $4.9-billion deal for the purchase associated with Rational Group back in summer time of 2014.

Final February, Mr. Baazov announced which he would make an offer to get Amaya and take the company pro essay writer private. However, he’d to drop those plans as he had been informed in regards to the ongoing Autorité des marchés financiers (Québec’s securities regulator) investigation.

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

Here it is vital to remember that based on numerous news reports, Mr. Tang is the person behind Goldenway Capital, an organization which was revealed among the financial backers to guide Mr. Baazov failed purchase bid back 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. Quite simply, Goldenway Capital’s interest in buying Amaya has not diminished or disappeared entirely after Mr. Baazov’s unsuccessful offer.