Amaya finalises rebranding as The Stars Group
Amaya has announced the completion of its planned rebranding as The Stars Group. After receiving shareholders approval earlier this year, the Canadian online gambling giant has presented a new corporate logo, a brand new website and the relocation of its headquarters from Montreal to Toronto.
Amaya, best-known for being parent company of PokerStars and BetStars, aims to mark the beginning of a new era reflecting its solid development. The firm’s overall growth over the past year was almost exactly 10%, though its online poker revenue for 2017 Q1 was $218.1m.
However, sources also suggest that this move is an attempt to distance the company from previous founder David Baazov, who also held different executive positions within the company for many years. Currently, the businessman is under investigation for insider trading allegations that stem from the $4.9bn deal involving the acquisition of The Rational Group in 2014.
Last February, Baazov stated he tried to purchase Amaya and make the company private. However, these plans were soon shelved as he was told about the investigation by Quebec’s securities regulator Autorité des marchés financiers.
The rebranding phase and the relocation of the headquarters of Amaya to The Stars Group comes at the same time as foreign investment arrives to the firm. Hao Tang, a Hong Kong businessman is increasing his stake within the company up to more than 15%.
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