Amaya Inc., the owner of PokerStars, is in the process of changing its name to The Stars Group Inc. and is going to be based in Toronto.
The online gambling company has recently gone through a difficult time and this is clearly part of their strategy for their planned transformation.
Furthermore, the company is working towards paying down debt, lessening the company’s exposure to an unstable online poker business and installing a new management team.
A key focus area is also on mergers and acquisitions which they believe will help them to diversify beyond poker; a business in decline since the U.S. outlawed online-gaming companies. Poker made up 69% of Amaya’s revenue in Q1, compared with 75% in 2016
Shareholder approval is being sought for the name change. The company is currently based near Montreal, Canada.