Amaya Inc (AYA) Stock Soars as CEO Aims to Take the PokerStars Company Private for $21 CAD/Share

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Shares of Amaya Inc. (NASDAQ:AYA) are surging this morning in the pre-market after CEO David Baazov and a group of investors have announced plans to take the company private in an all-cash $21 CAD-per-share takeover. Amaya is the company behind the PokerStars online website.

Currently David Baazov owns about 18.6 percent of the company (24.6 million shares) and the acquisition comes after a huge blow the company took last month when they were hit with an $870 million verdict. Although Baazov is said to be in talks with backers of the company, and reports are stating that the company has received a non-binding proposal from him, the deal has not yet been complete.

Such a deal would value Amaya Inc. (NASDAQ:AYA) at $4.39 billion CAD ($3.13 billion USD), which is a premium of approximately 40 percent over Friday’s closing price. Considering that the company acquired PokerStars back in 2014 for just $4.9 billion, this could be a good deal for all involved.

The stock closed at $10.56 during the last trading session. It is down 63.45% since June 25, 2015 and is downtrending. It has underperformed the S&P500 by 53.24%.

Amaya Inc. provides technology-based solutions, products, and services for global gaming and interactive entertainment industries worldwide. It operates through two segments, Business-to- Consumer (B2C) and Business-to-Business (B2B). The B2C segment offers online and mobile real-money and play-money poker, and other gaming products, including casino and sports betting; live poker tours and events; and branded poker rooms at casinos in major cities, as well as poker programming for television and online audiences. This segment offers its gaming and related interactive entertainment products and services under the PokerStars, Full Tilt, the European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour, and the Asia Pacific Poker Tour brands. The B2B segment designs, develops, manufactures, distributes, sells, and services interactive gaming solutions, such as Casino Gaming System, an online casino solution; and Mosino, a hospitality platform. This segment offers its solutions to land-based and online gaming operators, and governmental agencies and bodies; and the hospitality industry, as well as indirectly to end-users and consumers. The company was formerly known as Amaya Gaming Group Inc. and changed its name to Amaya, Inc. in December 2014. Amaya, Inc. was founded in 2004 and is headquartered in Pointe-Claire, Canada.

#focuskw=’AMAYA INC (NASDAQ:AYA)’##metadesc=’Shares of Amaya Inc. (NASDAQ:AYA) are surging this morning in the pre-market after CEO David Baazov and a group of investors have announced plans to take the company private in an all-cash $21 CAD-per-share takeover. Amaya is the company behind the PokerStars online website.

Currently David Baazov owns about 18.6 percent of the company (24.6 million shares) and the acquisition comes after a huge blow the company took last month when they were hit with an $870 million verdict. Although Baazov is said to be in talks with backers of the company, and reports are stating that the company has received a non-binding proposal from him, the deal has not yet been complete.

Such a deal would value Amaya Inc. (NASDAQ:AYA) at $4.39 billion CAD ($3.13 billion USD), which is a premium of approximately 40 percent over Friday’s closing price. Considering that the company acquired PokerStars back in 2014 for just $4.9 billion, this could be a good deal for all involved.

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