Amaya Rebrands as The Stars Group, Signaling a New Era
The online gaming powerhouse from Canada, Amaya, has formally adopted the name The Stars Group. Approved by stakeholders, this choice includes a redesigned emblem, a revamped online presence, and a relocation from Montreal to Toronto.
Renowned for its leading platforms, PokerStars and BetStars, the firm believes this name change embodies its remarkable expansion and signals a new era. Although online poker earnings experienced a minor decline in the initial quarter of 2017, Amaya, now The Stars Group, boasts an almost 10% overall growth trajectory over the preceding year.
Some theorize this action is also a method of separating the company from its contentious former chief executive, David Baazov. Baazov, who occupied various executive positions within the organization for several years, is presently facing scrutiny for purported insider trading connected to the $4.9 billion purchase of Rational Group back in 2014.
Further complicating matters, Baazov himself endeavored to take Amaya private last year. Nevertheless, those intentions were swiftly abandoned once information surfaced regarding the inquiry by Quebec’s securities watchdog, the Autorité des marchés financiers.
As The Stars Group establishes itself in Toronto, it also embraces a substantial investment from Hong Kong entrepreneur Tang Hao, who is augmenting his ownership in the enterprise to over 15%.
