• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Amaya CEO David Baazov takes indefinite leave

Mar 30, 2016 Newsdesk Industry Talk, Latest News, World  


Amaya CEO David Baazov takes indefinite leave

The chairman and chief executive of Amaya Inc, which operates the world’s largest online poker business, is taking paid leave of absence for an indefinite period, with effect from Monday, the firm said in a statement on Tuesday.

The Montreal-based company said David Baazov (pictured) would remain a board member but would be taking such leave to avoid creating distractions for the firm as he responds to charges of insider trading and prepares a bid to take the company private.

The Quebec securities regulator, Autorité des Marchés Financiers, last week filed five charges against Mr Baazov after it investigated stock trading related to Amaya’s US$4.9-billion acquisition in June 2014 of Oldford Group Ltd, parent company of Rational Group Ltd, which operates PokerStars and Full Tilt Poker.

The securities regulator said Mr Baazov was charged “for aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of securities of Amaya and communicating privileged information”.

Commenting on the decision, Mr Baazov said: “I believe that stepping down in the short term will help to avoid distraction for the company and its management while I vigorously contest all allegations made against me and pursue my bid to acquire the company.”

On Tuesday, Amaya said its board appointed Divyesh Gadhia as interim chairman and Rafi Ashkenazi as interim CEO.

Mr Gadhia is described as the company’s leading independent director and chairs the special committee of independent directors established in February to consider any proposal that might be made by Mr Baazov to acquire the firm. Mr Ashkenazi is currently CEO of Amaya’s operating business, Rational Group.

In February, Amaya confirmed it had received a “non-binding indication” from Mr Baazov to take the company private. It was reported at the time that Mr Baazov wanted to take the Toronto-listed Amaya private in an all-cash CAD2.8-billion (US$2-billion) deal, proposing to pay CAD21 per common share.

Last week the company said it had entered into an agreement earlier this month with Mr Baazov that set out the terms upon which he and his prospective co-investors and financiers may have access to certain confidential information about the company. “To date, Amaya has not received an offer from Mr Baazov,” it added.


  • tweet
Related articles
  • APT confirms Taiwan event March, no guaranteed prize pools
    APT confirms Taiwan event March, no...

    Feb 18, 2020  

  • PokerStars to host its first-ever tournament in Taiwan
    PokerStars to host its first-ever...

    Dec 04, 2019  

More news
  • Pagcor chairman keynote speech at SiGMA Asia
    Pagcor chairman keynote speech at SiGMA...

    Mar 28, 2023  

  • 3-month eVisa plan to boost Vietnam tourism: report
    3-month eVisa plan to boost Vietnam...

    Mar 28, 2023  


Latest News

Pagcor chairman keynote speech at SiGMA Asia

Pagcor chairman keynote speech at SiGMA Asia

Mar 28, 2023  

Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
Read More
3-month eVisa plan to boost Vietnam tourism: report

3-month eVisa plan to boost Vietnam tourism: report

Mar 28, 2023  

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us