Shares of Amaya Inc. Halted on Friday Due to Volatility

Published on October 7th, 2016 6:07 pm EST

According to a Reuters report, Amaya Inc., the parent company of Pokerstars, has received "strong interest from other companies in the industry and some private equity firms."

The article goes on to say that William Hill Plc and GVC Holdings Plc have both submitted bids for Amaya Inc. According to the article's anonymous sources, both bids are higher than the C$21/share bid that former CEO David Baazov was planning earlier in the year. Baazov, who is battling insider trading charges and is no longer at the helm of the company, has reportedly abandoned his plans to take the company private.

William Hill plc has been the subject of takeover speculation itself, as it turned down a bid from 888 Holdings plc earlier this year. GVC Holdings plc, on the other hand, is the parent company of PartyPoker, Bwin and Gamebookers, to name a few.

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Shares of Amaya Inc. were halted on Friday due to the volatility caused by the report. Amaya Inc., which trades on the NASDAQ under the symbol of AYA, remains halted at a price of $16.75 USD per share. The shares spiked as high as $17.50 before pulling back - moments later, shares were halted and remain under a halt.

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Many poker players have been unhappy with the Amaya Inc. regime and the changes that they have implemented at Pokerstars. Having said that, don't get your hopes up too high if there is a change of ownership at Pokerstars - both William Hill and GVC Holdings are publicly traded companies that have shareholders to answer to.

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It appears as though there might soon be a new owner of online poker's 800 pound gorilla, Pokerstars.

Most people would likely agree that Isai Scheinberg taking back control of the company that he founded would be the best case scenario for Pokerstars going forward, though that seems quite unlikely.

If that doesn't happen, who would you like to see buy Amaya Inc.?

Source: Reuters.com - Exclusive: William Hill, GVC Among Bidders for Canada's Amaya Inc - Sources

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Filed Under: Online Poker Rooms