JUNE 27, 2014 BY DAVID SHELDON
PokerStars’ carefully orchestrated sale to Amaya Gaming for $4.9 billion looks like it might well pay off for the world’s biggest poker site. The ink was still running down the page on that $4.9 billion contract when New Jersey gaming officials announced that they had met with representatives from Amaya, and this week they told the Associated Press that they were optimistic that PokerStars may be able to join the New Jersey market as early as this fall.
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osga.com - Does Amaya Gaming’s purchase of PokerStars and Full Tilt open the way to the U.S. market?
By: Hartley Henderson - Exclusive to OSGA.com
Published: Jun 26, 2014
The poker world was provided quite the shock recently when it was announced that Amaya Gaming will be purchasing PokerStars and Full Tilt poker for $4.9 billion. While there had been some speculation about the sale for a few months prior, most in the industry believed the sale would never be consummated due to the cost.
For those unfamiliar with the Quebec based company, Amaya entered the online gaming market in 2004 supplying software for electronic poker tables. In 2006 they hired David Baazov a 26 year-old entrepreneur as CEO and he made it quite clear at the time that his goal was to make Amaya a major player in all realms of legal government regulated online gambling through acquisitions. The company did have a few small acquisitions at first but really made a splash in 2011 and 2012 when they made several major purchases. First in early 2011 they purchased gaming software company Chartwell Technologies for $22.8 million; later that year they purchased Cryptologic for $36 million; late in the year they purchased Cadillac Jack for $167 million; and finally in 2012 they bought bwin.party's surplus Ongame poker Network for $15 million. As well, Amaya inked a partnership agreement with Australian based Aristocrat gaming and not surprisingly revenues at Amaya soared by over 200%.
But as successful as those deals had been the purchase of PokerStars and Full Tilt from the Oldford Group (parent company of the Rational Group) puts Amaya in a position to be the biggest online gambling company in the world.
Read More Here --> osga.com - Does Amaya Gaming’s purchase of PokerStars and Full Tilt open the way to the U.S. market?
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