Former Amaya CEO David Baazov walks away from bid to buy Montreal gaming company

David Baazov, the founder and former CEO of Amaya, is walking away from his bid to acquire the Montreal gaming company.

Baazov had proposed buying out other shareholders of Amaya Inc. for $24 per share.

But he says it became clear during discussions that the share price premium some shareholders wanted exceeded what he and his investors were willing to offer.

As recently as Nov. 25, Baazov said in a U.S. regulatory filing that he had $3.45 billion US in committed financing for a takeover of Amaya, which owns PokerStars and other online casino games.

Baazov, who owns about 17 per cent of Amaya stock, had first indicated his plan to take Amaya private early this year before Quebec's securities regulator laid five charges against him in March, including communicating privileged information.

He has pleaded not guilty to all the charges and the case is currently before the courts.

http://www.cbc.ca/news/business/amaya-bid-drop-baazov-1.3904943




WORLD LOTTERY WEBSITE LINKS

Industry



Worldwide

News February 17, 2017
Aric Nesbitt to be new Michigan lottery commission...
Latest News February 14, 2017
New Jersey law is the first to authorize and regul...
Latest News February 8, 2017
Hearing set for NH casino bill on Wednesday ...
January 31, 2017
New West Virginia Lottery Director Alan Larri...

LOTTERY EXPO 2016


Europe

LATEST NEWS February 9, 10
Arjan van ’t Veer is the new Secretary General o...
February 2, 2017
Kentucky Lottery proceeds are helping create a be...
February 1, 2017
Svenska Spel - Year-end report January-December 20...

Public Gaming Magazines

Public Gaming September/October 2016

.Pdf version of the magazine - click here

2016 Public Gaming July/August
2016 Public Gaming May/June
2016 Public Gaming March/April
2016 Public Gaming January/February

Public Gaming /Paul Jason - pjason@publicgaming.com   / Susan Jason - sjason@publicgaming.com  /Office Phone - + 425-449-3000