Amaya Gaming denies acquisition speculation

AmayaiGaming Business – Gambling industry entertainment provider Amaya Gaming Group has denied that it is looking to acquire another company following a sharp increase in its share price.

According to the Financial Post Canadian newspaper, Amaya shares on the Toronto Stock Exchange jumped 5% on Monday afternoon amid speculation that the Quebec-based firm was considering acquiring another company.

The firm moved to quell speculation by issuing a statement that read: “In response to trading activity that may stem from market rumours that have come to the company’s attention regarding a potential strategic acquisition, Amaya stated today that… [it] regularly evaluates potential acquisition opportunities.

“There can be no assurance that any discussions will ultimately lead to a transaction.”

In recent years, Amaya Gaming has acquired a number of online gambling companies such as Chartwell Technology and online gaming platform provider Cryptologic.

Amaya’s shares pared gains following the statement and closed up 2.93% on the Toronto Stock Exchange.

SOURCE

Related Stories from This Week in Gambling:

  • Amaya CEO Officially Steps Down Amaya Gaming, owner of the PokerStars platform, said Friday that former CEO David Baazov has resigned “from all positions” with the company. Baazov took a voluntary leave of absence from his positions as CEO and board chairman following insider trading charges that were made public in […]
  • Amaya CEO Got Kickbacks for Inside Information David Baazov, former CEO of Montreal online gaming firm Amaya, benefited from a kickback scheme in which he received payments in exchange for sharing privileged information about company acquisitions with friends and their families, Quebec's securities regulator alleges. The […]
  • Hong Kong provides huge market for illegal betting websites South China Morning Post - Hong Kong's multibillion-dollar illegal gambling habit has been built on sports betting but increasingly sophisticated online bookmakers - operating from servers around the region - are now offering punters a dizzying array of betting options. Bookmaking […]