Amaya Acquisition of Pokerstars and Full Tilt Officially Complete

Published August 5, 2014 by Lee R

Amaya Acquisition of Pokerstars and Full Tilt Officially Complete

The deal launches a new expansion era for the leadership of Amaya and Rational.

Amaya Gaming confirmed on Friday, August 1st the completion of its previously announced acquisition of holdings that will include the PokerStars and Full Tilt poker brands.

Amaya Takes Control of Oldford

The deal formally provides Amaya with 100% ownership of issued and outstanding shares of Oldford Group, the parent-company of Rational, the Isle of Man headquartered owner and operator of PokerStars and Full Tilt.

Total Deal

The cash transaction purchase totaled $4.9 billion, a figure which includes deferred payments and standard purchase price adjustments. Amaya's CEO David Baazov couldn't have been happier, which he elaborated on in the following statement:

"Through PokerStars, Full Tilt and its multiple live poker tours and events, Rational's brands comprise the world's largest poker business, generating diversified and recurring revenues across the globe from its extremely loyal customer base.”

Core Strategy

Rationale has core values around which it is building its expansion strategy. These values are identified by Baazov as “integrity, customer focus, and challenge.” The global culture drives the operational management of the experience of the company's executives and the high performance leadership teams which the company has assembled to shepherd further expansion, as the senior leadership turns over.

Rational's New Chapter

Rational Group founder and CEO Mark Scheinberg describes this new chapter:

"Since launching PokerStars in 2001 we have grown the business each year thanks to constant innovation, unparalleled customer service, and the talent of our dedicated workforce. While myself and other founders are departing, we are happy to see the business and the brands we have developed, along with the teams behind them, transferred to strong new ownership. I'm confident that Amaya, together with Rational Group's leadership, will continue to successfully grow the business into the future."

Purchase Logistics

The purchase was ultimately financed through a combination of cash on hand, new debt, private placement of subscription receipts, private placement of common shares and private placement of non-voting convertible preferred shares. The cash on hand portion comprises approximately $213 million, and includes a $50 million deposit submitted on June 12, 2014.

Mentioned in this article

See also

PokerStars, Full Tilt Settle with US DoJ

Play Poker in April With PokerStars, Full Tilt

Amaya Addresses Speculation to Quell Acquisition Rumours

Full Tilt Poker's Two Licenses

Audley Harrison Joins Full Tilt Poker

Yes! I want to know about exclusive bonuses, promotions, and news.