Senior Amaya execs join Baazov takeover bid

Senior Amaya execs join Baazov takeover bid

Monday, February 8, 2016 Totally Gaming

Amaya has revealed that its executive vice-president of corporate development and general counsel is among four employees set to join president, chairman and chief executive David Baazov in his takeover bid for the company.

Baazov last week revealed details of a plan to buy the group that owns PokerStars for approximately C$21.00 (€13.8/$14.9) per common share – which would value the company at around C$2.80bn.

A statement by the company today said it had been “notified… executive vice-president, corporate development & general counsel, along with three other employees, may be participating in Mr Baazov's potential transaction proposal”.

While not named, Marlon Goldstein currently holds the executive vice-president role mentioned. Amaya also said that a special committee of the board of directors formed following Baazov’s declaration, has appointed Barclays Capital Canada as its financial advisor.

Baazov currently owns 24,564,047 common shares of Amaya, representing approximately 18.6 per cent of the issued and outstanding common shares, and options entitling him to acquire 550,000 additional common shares.

Baazov, who founded Amaya in 2004 and led the company’s $4.9bn takeover of PokerStars and Full Tilt in 2014, announced his intentions just days after the company revealed that financial performance for 2015 is set to be “within the upper end” of previously issued guidance. 

In November, Amaya said FY 15 revenue would come in between C$1.29b and $1.34b, while earnings would range from $552m to $572m.

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