Amaya Hires William Hill Merger and Acquisition Specialist
Canadian gambling giant Amaya reportedly hired an M&A specialist in order to boost its merger and acquisition department after a failed merger with the United Kingdom major betting operator William Hill.
William Hill and Amaya got engaged in a £5 billion merger talks last year, but the deal fell through due to the pressure from William Hill’s major shareholders.
Amaya has now reached out to William Hill’s courtyard to grab the company’s Director of Strategy and Corporate Development, Robin Chhabra.
According to some reports, Amaya and Mr Chhabra have already agreed on a deal that sees former William Hill executive join Amaya’s team, while other reports claim the two parties are still in talks.
Mr Chhabra has spent seven years with William Hill and was tasked with advising role to executives on M&A matters. Prior to his William Hill role, Chhabra worked for Inspired Gaming, occupying the role of Director of Corporate Development.
His arrival to Amaya team is regarded as a clear signal that the Canadian gambling company is keen to make another merger and acquisition push in order to set its foot into the sports betting business.
Amaya apparently wants to follow the growing trend of casino industry’s major players who have chosen to consolidate their operations by moving into the betting arena in a more direct pace.
Over the past couple of years, the Canadian company expanded its operations and moved from casino space into the sports betting, with two company’s divisions recording a 99% growth in revenue in 2016. The total amount of $271.3 million is huge contrast to 2015 numbers which stood at 136.3 million.
Chhabra’s appointment could signal Amaya’s improved efforts into making a strong move towards developing its own sports betting business.