Amaya to repurchase stock

The plan involves Amaya purchasing and cancelling up to 5,399,631 common shares over a one-year period, which is approximately 5% of the public float.

It will only be able to purchase up to 25% of the average daily trading volume of the common shares each day.

Amaya announced in a statement: “Amaya believes that its current share price does not reflect the underlying value of the corporation, and that purchasing shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders.

“The corporation intends to buy back common shares for cancellation from time to time when it determines the price at which they are trading is undervalued and that such purchases provide the best use of available cash.

Amaya took over PokerStars and fellow operator Full Tilt when completing a $4.9bn acquisition of the Oldford Group, the parent company of the Rational Group, itself the parent company of Stars and Tilt.

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David Cook

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David Cook served as an editor and writer for Gambling Insider from 2018 to 2020, where he played a central role in shaping the publication’s editorial direction. He oversaw the creation and implementation of the broader editorial strategy for Gambling Insider and its related publications, managing the production of 30 print magazines annually while also contributing to the management of GamblingInsider.com and a weekly digital newsletter.

During his tenure, David led the publication’s largest editorial team to date, guiding its expansion and ensuring consistent, high-quality output across all channels. He also hosted and helped launch the GI Huddle podcast, a project he was proud to bring from concept to reality.

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