Amaya Poised to Expand Its Versification Strategy

Publish: 03.04.2017

Turbulent times are behind Canada’s gaming and online gambling company Amaya Inc. which has been embroiled in some rather big controversy with its former CEO David Baazov, who was charged with the total of 23 illegal trades believed to be carried out during his six-year spell in charge of the company.

As Amaya Inc. slowly begins to regain the public trust with Baazov slowly getting out of the picture with sales of Amaya Inc.’s shares, the new Chief Executive Rafi Ashkenazi continues to make huge strides towards bringing the company back to the top.

Praised Asset

Rafi Ashkenazi took the Amaya helm in August 2016, following Baazov’s controversial departure and he wasted no time to roll up his sleeves and get to work.

Ashkenazi’s main focus during his time in charge so far has been to reduce the company’s long-term debt and create a trustworthy team of executives to lead the company forward.

Amaya Inc.’s CEO has been receiving a widespread appraise for his pragmatic approach and leadership style which resulted in a 30% rise in the company’s shares since Rafi Ashkenazi’s appointment.

Ashkenazi is an experienced name in the industry having served as COO at Rational Group and Playtech and his main focus with Amaya Inc. will be to continue the company’s versification strategy.

Pushing the Bar

Amaya CEO is keen to see the company reduce its reliance on poker vertical and push its players’ focus further on Amaya’s casino products. Ashkenazi told Bloomberg News he was satisfied with the company’s crossover with casino vertical thus far, but with so much room for improvement Amaya needs to diversify even more.

One of the key landscapes that could bring improvement is the betting industry, but Rafi Ashkenazi acknowledges that such a proposition ‘faces a competitive market where the majors have established significant volume and price efficiency’.

This is why Amaya Inc. is expected to push its focus to further reduction of debts and gradual movement towards mergers and acquisitions, revealing that the company is recruiting a Group Strategy Director to seek opportunities within the sports betting sector.