Amaya Gaming Pays $4.9bn For PokerStars And Full Tilt Poker
Amaya Gaming can now officially claim to be the world’s largest publicly traded online gaming company after they entered into the much talked about deal with PokerStars. In terms of the agreement Amaya Gaming will acquire both PokerStars and the Full Tilt Poker brands for a price of $4.9bn.
Confirmation came last night when Amaya agreed to acquire 100 percent of the parent company of Rational Group who operate the two brands. This acquisition is a game changer in the online gaming world as PokerStars and Full Tilt Poker have over 85 million resisted users which will be looking to cash on emerging and expanding markets like that of the US.
CEO of Amya David Baazov commented on the colossal strategic move,” This is a transformative acquisition for Amaya, strengthening our core B2B operations with a consumer online powerhouse that creates a scalable global platform for growth. Mark Scheinberg pioneered the online poker industry, building a remarkable business and earning the trust of millions of poker players by delivering the industry’s best game experiences, customer service and online security. Working with the experienced executive team at Rational Group, Amaya will continue that tradition of excellence and accelerate growth into new markets and verticals.”
From the point of Rational Group Founder and CEO Mark Scheinberg the partnership was a match made in heaven and he said,” I am incredibly proud of the business Isai (Scheinberg) and I have built over the last 14 years, creating the world’s biggest poker company and a leader in the iGaming space. Our achievements and this transaction are an affirmation of the hard work, expertise and dedication of our staff, which I am confident will continue to drive the company’s success. The values and integrity which have shaped this company are deeply ingrained in its DNA. David Baazov has a strong vision for the future of the Rational Group which will lead the company to new heights.”
In terms of executive management the Rational Group teams will be retained with both PokerStars and Full Tilt Poker online poker services remaining unaffected. Amaya will be adding to their current casino games with the expansion of the Full Tilt Poker casino platform. Amaya will look to pursue growth in areas like sportsbook, social gaming and new regions.
It will be interesting to see how quick PokerStars becomes a major player in the New Jersey online poker market and what effect it will have on the struggling US online gaming industry.