
Canadian online gambling giant Amaya announced earlier today that it has finished its planned rebranding once the Stars Group and also the moving of its headquarters from Montreal to Toronto. It revealed a brand new corporate logo and launched a fresh web site to mark the start of the latest age in its development.
The business has received the necessary approval from the responsible regulators and can start trading in the Global Select Market under the ‘TSG’ ticker symbol as well as on the Toronto Stock Exchange beneath the ‘TSGI’ ticker icon as from today.
Amaya confirmed its planned name change in May. The organization is most beneficial understood if you are company that is parent of Rational Group, which in turn has the PokerStars and BetStars online gambling brands. PokerStars, the planet’s largest online poker operator, has generated itself while the Canadian giant’s primary business plus it explained formerly that its rebranding because the Stars Group would mainly try to mirror the prosperity of that one brand and the future development of its sister BetStars brand.
Many believe that Amaya has undertaken that essential change in order to distance it self from the David Baazov past. The businessman, who discovered the organization within the 2000s and occupied posts that are executive years, is the main topic of an insider trading investigation in terms of the $4.9-billion deal for the purchase regarding the Rational Group back in the summertime of 2014.
Last February, Mr. Baazov announced he would make an offer to buy Amaya and take the organization personal. But, he had to drop those plans as he had been informed about the Autorité that is ongoing marchés financiers (Québec’s securities regulator) investigation.
The statement about Amaya’s finished rebranding and moving comes at any given time a Hong Kong businessman is increasing their stake in the gambling that is canadian with every single day passing. Hao Tang, whom, according to his Bloomberg profile, has over a ten years of experience in asset management, investment banking, and mining enterprise administration, currently holds greater than a 15% stake in Amaya after having a shares shopping spree that began back March 2017. In only, Mr july. Tang acquired 4,000,000 shares into the ongoing business for over C$88.9 million.
Right Here you should keep in mind that according to numerous media reports, Mr. Tang could be the individual behind Goldenway Capital, a business that was homework in minutes revealed among the monetary backers to aid Mr. Baazov failed purchase bid back November 2016.
April it should also be pointed out that Mr. Tang began buying Amaya shares shortly after Mr. Baazov sold off 7 million shares in the company in March, followed by 12 million more shares in early. Put another way, Goldenway Capital’s fascination with purchasing Amaya hasn’t disappeared or diminished completely after Mr. Baazov’s failed offer.