• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Amaya confirms merger talks with William Hill

Oct 10, 2016 Newsdesk Latest News, Top of the deck, World  


Amaya confirms merger talks with William Hill

Amaya Inc, the owner of the PokerStars online gambling brand, has confirmed it is in merger discussions with United Kingdom-listed betting firm William Hill Plc.

Amaya outlined in a statement on Saturday that it and William Hill were in discussions regarding “a potential all-share merger of equals”.

The idea – which in news reports has been mentioned as a GPB4.5-billion (US$5.6-billion) to GPB5-billion exercise – “would be consistent with the strategic objectives of both William Hill and Amaya and would create a clear international leader across online sports betting, poker and casino,” added the Amaya statement.

Meanwhile a news outlet said William Hill faces a possible rival for a link-up with Amaya.

The U.K.’s Daily Telegraph newspaper reported on Saturday that Isle of Man-based GVC Holdings Plc, owner of the Bwin online betting brand, was also interested in tying with Toronto, Canada-listed Amaya. The news outlet didn’t identify the source of the information, but said GVC had declined to comment.

A number of media reports mentioned that increases imposed by the U.K. government on taxation for online betting had helped spur interest in market consolidation among online providers based there.

In July, online gambling businesses 888 Holdings Plc and Rank Group Plc made a takeover offer for William Hill, but talks were discontinued.

Earlier this year, David Baazov stepped down as chief executive of Amaya amid an insider trading probe, but pledged to try and take the group private. Rafi Ashkenazi, who was appointed interim CEO in March 2016, was confirmed in August as Amaya’s chief executive on a permanent basis.

In February, Amaya said it had received a non-binding indication from Mr Baazov that he was in discussion with investors to make an offer for the company valued at around CAD2.8 billion (US$2.1 billion).

Amaya said on Saturday regarding talks with William Hill: “These discussions are ongoing and there can be no certainty that an agreement will be reached.” It noted the potential merger would be classified as a reverse takeover under the listing rules of the U.K.’s Financial Conduct Authority.

Reuters and Bloomberg News reported on Friday that William Hill and Amaya were in talks regarding the all-stock merger

PokerStars claims to control 70 percent of the online poker market globally, saying it has 2.26 million quarterly active users and a database of more than 100 million users. In Asia the brand is affiliated with the Asia Pacific Poker Tour, which offers live poker tournaments at casino venues around the region.

Amaya bought online poker sites PokerStars and Full Tilt for US$4.9 billion in 2014. The PokerStars brand name is attached to the dedicated poker room at the City of Dreams Macau casino resort in the Cotai district of Macau.


  • tweet
Related articles
  • Ex-MGM China boss Murren eyes online gaming deals: report
    Ex-MGM China boss Murren eyes online...

    Sep 10, 2020  

  • GEN Malaysia US$216mln 2Q loss, Lim elder exits chair role
    GEN Malaysia US$216mln 2Q loss, Lim...

    Aug 28, 2020  

More news
  • Fitch says LVS Nevada sale slight negative, Moody’s keener
    Fitch says LVS Nevada sale slight...

    Mar 05, 2021  

  • Travel ban on casino hub Sihanoukville: reports
    Travel ban on casino hub Sihanoukville:...

    Mar 05, 2021  


Latest News

Fitch says LVS Nevada sale slight negative, Moody’s keener

Fitch says LVS Nevada sale slight negative, Moody’s keener

Mar 05, 2021  

Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Read More
Travel ban on casino hub Sihanoukville: reports

Travel ban on casino hub Sihanoukville: reports

Mar 05, 2021  

Melco says City of Dreams in Cyprus open summer 2022

Melco says City of Dreams in Cyprus open summer 2022

Mar 05, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"

Junling Tan, Yu Sheng Tay and Vikas Halan

Analysts at credit rating agency Moody’s Investors Service



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Pansy Ho again cuts stake in MGM Resorts, for US$57mlnPansy Ho again cuts stake in MGM Resorts, for US$57mln March 4, 2021
  • LVS plans to keep U.S. base, stock listing: spokesmanLVS plans to keep U.S. base, stock listing: spokesman March 4, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us