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Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Topic: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal (Read 6868 times)
TightEnd
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Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
«
on:
June 13, 2014, 08:50:21 AM »
"After being reportedly close to reaching a deal on Thursday, the Amaya Gaming Group Inc. and the parent company of PokerStars and Full Tilt Poker, Rational Group, announced a deal on Thursday that could ultimately pave the way for the two online poker rooms to return to the U.S.
Amaya and privately-held Oldford Group Limited Limited (the parent company of Rational Group) struck a definitive deal in which entitles Amaya to all issued and outstanding shares of Oldford Group for an aggregate purchase price of $4.9 billion, meaning PokerStars and Full Tilt Poker have been sold to Amaya in an unprecedented acquisition within the world of online gaming.............."
http://uk.pokernews.com/news/2014/06/amaya-acquires-pokerstars-and-full-tilt-poker-14267.htm
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Longy
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #1 on:
June 13, 2014, 08:53:02 AM »
Have just done some reading round this and can't say I like what I here from a personal standpoint. The aim is obviously to get back into the US, but at what cost?
I love stars and we are super lucky to have them as the industry leader in online poker. A different ownership may run the site in a different way and I can't see that way being as good as life under the Scheinbergs.
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Longines
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #2 on:
June 13, 2014, 10:04:09 AM »
In calendar years 2012 and 2013, Oldford Group recorded revenues of $976 million and $1.1 billion, respectively, and adjusted EBITDA of $342 million and $420 million, respectively.
I thought it would be more tbh.
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wazz
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #3 on:
June 13, 2014, 10:47:28 AM »
From the amaya groups' website:
'Rational Group’s executive management team will be retained and online poker services provided by PokerStars and Full Tilt Poker will be unaffected by the Transaction, with players continuing to enjoy uninterrupted access to their gaming experience.'
Reassuring.
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wazz
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #4 on:
June 13, 2014, 11:06:06 AM »
Amaya is a much smaller company. They're only putting up a small amount of money for this sale, getting big loans secured on Rational Group for most of the rest, and releasing $500M in new shares. Wouldn't surprise me at all if Scheinberg et al are the ones buying those shares.
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Yian
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #5 on:
June 13, 2014, 01:08:35 PM »
What's thought of the share potential once they reenter the U.S?
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rfgqqabc
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #6 on:
June 13, 2014, 04:04:41 PM »
Click to see full-size image.
Click to see full-size image.
Gutted. This is really bad for poker in my opinion.
«
Last Edit: June 13, 2014, 04:07:35 PM by rfgqqabc
»
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TightEnd
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #7 on:
June 13, 2014, 04:06:06 PM »
why is that please, Adam?
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rfgqqabc
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #8 on:
June 13, 2014, 04:16:11 PM »
Quote from: TightEnd on June 13, 2014, 04:06:06 PM
why is that please, Adam?
Pokerstars has been seen to be support poker as a skill game. They avoided, for the most part, casino games and the like which must detract from the overall money circulated in the poker economy. I think the current owners did a good job of maintaining a long term vision and supported poker as a sport (mind sport or w/e) compared to a company that will not think long term, or for the good of the game in my opinion. I'd much rather have had the Schienbergs (sp?) and a small chance of entering the US market, then owners who I know nothing about, seem extremely corporate/ profit driven and a better chance of entering the US market. Party has become a joke of a site since it was floated on the stock exchange, regularly breaks its own rules, going back on guarantees, handing out under the table rakeback deals and attempting some weird poker ecology thing that did little to protect new players but did a lot to encourage multiaccounting. Nevermind, charging people to withdraw!
Notice how in the second picture posted, the online poker bit isn't circled for future growth opportunities. I just grabbed those pics of 2+2 so I have no source, but I'm really unhappy. Plus if the owners are getting out now, they probably don't anticipate future growth anytime soon. They should, in theory, have the most information about their business which is scary when they choose to sell it.
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[21:05:17] Andrew W: you wasted a non spelling mistakepost?
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TightEnd
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
«
Reply #9 on:
June 13, 2014, 04:19:08 PM »
Amaya owns Ongame? i think, bought in 2012
wonder what the strategy for that network is now?
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rfgqqabc
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #10 on:
June 13, 2014, 04:19:28 PM »
Amaya also bought ongame and that network has slowly died off since then and had a bunch of cashout problems (some may not be their fault, but its hardly encouraging.)
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mondatoo
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #11 on:
June 13, 2014, 04:21:29 PM »
We had a good run
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redarmi
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #12 on:
June 13, 2014, 04:26:08 PM »
Quote from: wazz on June 13, 2014, 11:06:06 AM
Amaya is a much smaller company. They're only putting up a small amount of money for this sale, getting big loans secured on Rational Group for most of the rest, and releasing $500M in new shares. Wouldn't surprise me at all if Scheinberg et al are the ones buying those shares.
I would be amazed if it was Scheinberg et al that are buying those shares given their involvement would preclude entry back into the US which appears to be a major driver of the deal.
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scotty77
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #13 on:
June 13, 2014, 06:00:12 PM »
Yeah not liking this. Think it's bad in the long run.
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mulhuzz
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Re: Amaya Gaming Acquires PokerStars and Full Tilt Poker in $4.9 Billion Deal
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Reply #14 on:
June 13, 2014, 06:09:17 PM »
think it's way too early to be taking a position on whether this is good for poker or not btw....
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