Amaya Stock Going PublicPublished June 2, 2015 by Lee R
This is a huge breakthrough for the online gaming industry in terms of public legitimacy.
Pokerstars and Full Tilt owner Amaya, the world's largest publicly traded online gaming company, announced last week that it had been approved by Nasdaq for public trading.
As of June 8th, Nasdaq has approved the listing of Amaya common shares on The Nasdaq Global Select Market to commence trading under the symbol AYA. This is the same symbol under which Amaya will continue previous trading on the Toronto Stock Exchange.
Amaya Chairman CEO David Baazov called the listing a chance to significantly improve visibility and liquidity for it's stock as the company's shareholder base is broadened.
The Nasdaq Global Select Market is Nasdaq's high end platform, the top-tier of public companies meeting the highest standards of listing, related to benchmarks such but not limited to financial condition, liquidity and corporate governance practices.
Amaya has been a leading provider of technology-based solutions, product and services for some time as a leader in the global gaming and interactive entertainment industries. The full portfolio of Amaya's gaming and business brands includes PokerStars, Full Tilt, the European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour and the Asia Pacific Poker Tour.
Testing the Waters
This will be interesting if not fascinating to see how the shareholder base expands, because it will provide a real reflection on the extent to which people are willing to invest in and pursue profits from online poker, in an industry which is still overcoming ethical issues and social stigma in terms of social perceptions as the final obstacles to fully harnessing the financial benefits available in the unique vacuum for online gambling that still exists globally.
The medium itself is highly adaptable to the online marketing mechanism as it is, where advanced graphics and payment technologies can rapidly increase user engagement and be delivered worldwide when regulated.
Victory for iGaming
Suffice to say, the acceptance by Nasdaq of the world's largest online gaming enterprise into its highest tier of public trading is a significant breakthrough not just for Amaya, but for the entire online global gaming industry.