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Amaya Gaming is the new owner of PokerStars

Amaya Gaming is the new owner of PokerStars

Thanks to the deal with the Rational Group Amaya Gaming appeared among the leaders of online gambling.

In December Forbes magazine introduced Amaya Gaming Group CEO David Baazov as a new ‘king of online gambling’ after his successful bargain in 2014 with private poker provider Rational Group, the owner of PokerStars and Full Tilt.

All the information about the preparation and Baazov’s strategy in this deal is presented by Forbes Staff Editor Nathan Vardi, who also gives particulars about Baazov’s negotiations with the investor Blackstone CEO who would invest $1 billion in the acquisition deal, its biggest ever investment commitment.

The purchase of the Rational Group for $4.9 billion was finished in August, and the sum paid was called incredible for igaming industry. Davis Baazov, Amaya Gaming Group founder, himself controlled the purchase investment by selling approximately $1.7 billion of Amaya Gaming stock at $18.

Forbes named the sum of $4.9 billion paid for the Rational Group, which is one of the leaders in online poker (check video poker game), as the most interesting deal of 2014. At the beginning of 2014 the revenues of Amaya Gaming was $150 million and the cost of a share $7. The Rational Group had revenues of $1.1 billion. So the deal seemed like useless hope by Amaya Gaming Group.

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Only because of definite determination, fate and mind, Amaya Group CEO was able to gather the necessary sum for the bargain and even convinced PokerStars owners the Scheinberg Family to sell their prosperous company to such unfamiliar firm as Amaya Gaming Group.

After the bargain of the Rational Group, Amaya Gaming appeared at the top. Their shares price increased from $7 to $28.50 (even $38.78 in November). David Baazov could prove his leading talents and now has 12% stake in the Group (equal to $800m).

Amaya Gaming is thinking about broaden their services offering sports betting and casino entertainments in the nearest future.

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