Former CEO and Amaya Inc. Founder David Baazov has withdrawn his $6.7 billion offer due to the too high asking price of some shareholders.
Amaya, owner of Poker Stars and Full Tilt is listed on the Nasdaq and Toronto Stock Exchange.
In a statement Baazov said: “During the discussions it became evident that the share price premium demanded by certain shareholders exceeded the price at which my investors and I would be willing to complete a transaction. After consulting with my advisors, I determined that the best course of action for me and Amaya would be for me to end my attempt to purchase the company.”
Baazov put initially an offer of $6.7 billion together with the help of a group of fianciers. This is the second time a deal didn’t go through after William Hill plc and Amaya called off a deal back in October.
Baazov who took part in the purchase of PokerStars and Full Tilt for $5 billion in 2014, still owns a stake of 17.2% of the world’s largest online gaming company.
The UK Gambling Commission has issued a £6m (EUR 7.0m / USD 8.2m) penalty to online operator Casumo for severe…
The Dutch Gambling Authority (Kansspelautoriteit/Ksa) expects that by October 1 this year, roughly 6 months from the enactment of the…
Amidst a global pandemic, 888 Holdings has reported a staggering 52% increase in revenue during full-year 2020 to $849.7 million…
Playtech, a leading global gambling technology company, have announced the extension of their partnership with Flutter Entertainment for its Paddy…
FreeBitco.in, a large online (crypto) casino is ambitious and is looking to turn the FunFair (FUN)Token into the token of…
Gustaf Hagman strongly believes so. In a recent interview with Gambling Insider, the LeoVegas Chief Executive Officer expressed his concern…