Amaya Adds Payment on Deferred Purchase Price
As per obligation for its acquisition of the Rational Group back in August 2014, the Canadian gaming company Amaya has this week made an additional $75 million payment on outstanding deferred purchase price.
The latest payment has reduced the total obligation to approximately $122.5 million, the company announced.
Clearing the Balance
Amaya also announced that it intends to pay the remaining sum of the outstanding deferred perchance balance over the course of the year 2017 from unrestricted cash on the balance sheet and cash flow from its operations.
The Canadian gambling company boasts strong business performance which will allow Amaya to make another significant payment to its pre-existing contractual obligation and Amaya’s Chief Executive Officer Rafi Ashkenzi is confident the company will be able to clear the balance in a timely manner.
Next payment is expected to be made in May 2017, with the following one expected to go through in August of the same year.
What is more, Amaya this month also made an approximately $6 million advance payment of the three-months of non-refundable late payment fees which are related to unpaid balance of deferred purchase price, required by Rational Group’s previous owners.
Amaya Inc. is a Canadian gaming and online gambling company, traded on the Toronto Stock Exchange.
With its headquarters located is suburban Montreal, Quebec, Amaya is best known to the broad gaming public as the owner of the world-famous Poker Stars and all related poker consumer business including PokerStars Casino, PokerStars Championship and PokerStars Festival Live.
With well over 105 million registered customers combined, Amaya’s Poker Star brands are collectively the largest poker business in the world. In particular, PokerStars is the world’s most licensed online gaming brand, which makes Amaya the leader in play-money poker player liquidity.