Details on the massive $4.9 billion acquisition deal between Amaya Gaming and PokerStars parent The Rational Group have emerged, with details on the deal's financing being made known.
As part of the deal, $2.1 billion of the $4.9 billion is being financed in senior secured credit facilities. $800 million of that in second lien term loans, $1 billion in preferred shares, $460 million in subscription receipts, and $540 million in cash.
Additionally, Mark and Isai Scheinberg will resign from their positions with Rational, but the group is expected to retain their current employes.
Current Rational shareholders will sell their shares to a "wholly owned subsidiary of Amaya".
Commenting on the deal Amaya CEO David Baazov said, "Mark Scheinberg pioneered the online poker industry, building a remarkable business and earning the trust of millions of poker players by delivering the industry's best game experiences, customer service and online security."
"Working with the experienced executive team at Rational Group, Amaya will continue that tradition of excellence and accelerate growth into new markets and verticals."
"Amaya believes the transaction will expedite the entry of PokerStars and Full Tilt Poker into regulated markets in which Amaya already holds a footprint, particularly the USA."
"Rational Group's executive management team will be retained and online poker services provided by PokerStars and Full Tilt Poker will be unaffected by the transaction, with players continuing to enjoy uninterrupted access to their gaming experience."