Amaya Shareholders Approve Company’s Rebranding

Publish: 25.06.2017

It was last month that the Canadian gaming power force Amaya Inc. have first unveiled the rebranding plans, alongside the first quartal results.

Amaya Rebranding

Amaya revealed plans for the company’s rebrand and a name change to ‘The Stars Group’.

Shareholders’ approval was required in order to move forward with the rebrand plans and the Canadian firm has this week confirmed that shareholders have voted in favor of the rebranding proposal.

The new name is expected to come into full effect starting from August when the company’s head office relocation is scheduled to go through as well. Amaya Inc. is set to move its offices from current Montreal address to a new site in Toronto. In the meantime, shareholders have also voted to approve continuance under the Business Corporations Act to make Amaya an Ontario corporation.

Additionally, shareholders have approved the re-election of a number of directors to the Amaya board. The most important update is that Divyesh Gadia will continue as director of the company and chairman of the board.

Indian Breach

In other news related to the Canadian company, Amaya has announced its plans to pursue expansion to the Indian market in order to grow its online poker business.

Huge population makes India an attractive market for the company, whereas it is the penetration of smartphones exceeding the United States that also makes it a potentially lucrative market.

Amaya’s chief operating officer in India is currently working on finalizing a structure that will lay grounds for Amaya to go operational with an already licensed partner.

“It’s a booming country and we want to be there and we want to be there in time and make sure that we are as usual the market leader when it comes to poker.”, Amaya CEO Rafi Ashkenazi said.

Ashkenazi hopes Amaya will eventually manage to capture at least half of the online poker market that could reach $150-million in just a few years’ time.