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POKERSTARS GETS A NEW OWNER
Today it was made official. PokerStars is being sold to the Amaya Gaming Group Inc. for $4.9 bilion in cash. By acquiring PokerStars Amaya Gaming will now become the largest online gaming company the world has ever seen.
We should mention that the deal doesn’t just involve PokerStars. Amaya also acquires Full Tilt Poker. Full Tilt Poker was bought by the company that owns PokerStars a couple years ago. Full Tilt is the second largest online poker site, after PokerStars.
The investors of Amaya were very pleased with this news. This became clear when the stock price went up with 41% this morning. Amaya, which is based in Canada, acquired PokerStars and Full Tilt in the hope to bring them back to the US. PokerStars and Full Tilt aren’t (weren’t) able to become licensed online poker operators in US, because they had breached the Unlawful Internet Gambling Enforcement Act of 2006 by still offering online poker in the US after the act became official. Amaya now is confided that they will be able to obtain a US online poker license for both, because PokerStars and Full Tilt are now under new leadership.
Amaya had to attract some serious capital in order to finance this deal. Amaya loaned a total of $2.9 billion from a number of big banks. Attracting more capital with securities and bonds financed a remaining $1.6 billion. The rest of the deal was financed with cash that Amaya had lying in the bank.
The deal is not just a very good move for the investors of Amaya, but also for the Seinberg family. The Seinberg family was the majority stakeholder of the Rational Group Ltd. The Rational Group is the owner of PokerStars and Full Tilt. The Seinberg family owns 75% of this company, so they can now call themselves billionaires (if they weren’t already).
We are very interested in knowing how this deal will affect the future of PokerStars, because the CEO, Mark Seinberg, will resign after the deal has been finalized. Under his leadership PokerStars had become the biggest online poker site with over 85 million registered users. You can be assured that we will keep you up to date on everything that will happen.
