Amaya Will Move To Toronto Renamed The Stars Group Inc.

Published Friday, May 12, 2017 -
Amaya Will Move To Toronto Renamed The Stars Group Inc.

Amaya Gaming beat analyst estimates with revenue at US$317.32 million, up 10 per cent from last year which is great news for investors in the online gambling enterprise.  Amaya has to move to Ontario and the booming metropolis of Toronto and an identity change for its brand.

The renewed entity will be rebranded as The Stars Group Inc. an effort by Chief Executive Officer Rafi Ashkenazi to reconfigure the firm after numerous upheavals in its development over the several years. Amaya’s CEO inherited numerous issues associated with stepping down of the previous CEO David Baazov after the storm clouds gathered over the insider trading charges and lack luster earnings.

A new management team has been hired to deal with a mercurial online poker market. Industry veteran Robin Chhabra was appointed to the newly created position of Chief Corporate Development Officer of Amaya. Mr. Chhabra will lead and oversee Amaya's corporate development function focusing on mergers and acquisitions. He will reporting to Ashkenazi who is bending the company back into shape slowly but surely. Diversifying past poker online casino games and sports book accounted for 27 per cent of sales, up from 21 per cent over last year.

Amaya has a reputation for technology-based products and services in the global gaming and interactive entertainment industries and is a massive undertaking with many different products and 17 jurisdictions to manage. Ashkenazi’s strategy is to pay down the enormous debt the company has been managing handling it with care. Keeping a firm this diverse in a declining poker market has been a struggle especially with the uncertainty surrounding the online gambling market in the USA. The Amaya brands have more than 108 million cumulative registered customers globally and collectively are the largest internet poker room in the world. Amaya Gaming also offers other gaming products, which include casino, sports book and daily fantasy sports rounding out the firm’s commitment to total online gambling entertainment.

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