Amaya Online Gambling Gets the Green Light in New Jersey

Published Thursday, October 01, 2015 -
Amaya Online Gambling Gets the Green Light in New Jersey

Good news travels fast in the online gambling industry and when a long sought after goal is achieved,  there is a reason to pay attention. Amaya Gaming the Canadian firm which owns and operates Poker Stars and Full Tilt has announced it has been granted approval by the New Jersey Division of Gaming Enforcement to offer online gaming services and products in the Garden State.

The big hold up for the Amaya Gaming approval was placed squarely on the investigation that Amaya has been undergoing concerning the acquisition of Poker Stars and Full Tilt’s parent firm Rational Group.

The Director of the New Jersey Division of Gaming Enforcement, David Rebuck, was quoted recently “that approval for the brands had been delayed due to an ongoing investigation into Amaya’s acquisition of Rational Group.”

The actual launch of online gambling services has not been revealed but the approval for both AMaya brands is confirmed. The existing partnership with Resorts Casino Hotel in Atlantic City will fulfill the required partnering by the regulatory body. Amaya was recently approved for both B2B online and terrestrial gambling in New Jersey.

David Baazov, Amaya’s chair and chief executive officer commented on the license approval, “We are very pleased to add New Jersey to the long list of regulated markets that have found PokerStars and Full Tilt suitable to offer real-money online gaming,” Mr. Baazov continued, “Since the acquisition, we have consistently delivered on our stated strategy.” Adding, “Today’s announcement follows the divesture of our B2B businesses for total gross proceeds of approximately $524.8 million (€470.9 million); the launch of casino games on PokerStars, which we estimate has one of the largest active user bases of any online casino; the refinancing of our long-term debt and the reduction of our annual interest expense by approximately $62 million. We are excited about our new product pipeline and enthusiastic that we will experience growth in existing and emerging markets in the future.”



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