Baazov Sells More Shares in Amaya

This story was published more than 3 years ago.

The former CEO and majority shareholder of Amaya Gaming has sold off 12 million shares in the company, coming a month after he had sold 7 million shares.

The sale was worth $200.9 million and came at a price of CDN $22.31 per share. Now the former executive holds about 3.8% equity in the company, which will ensure that he will not negotiate a takeover attempt of the Canadian betting giant.

Baazov was instrumental in Amaya purchasing The Rational Group, which is the parent company of PokerStars and Full Tilt Poker. He was pushed out of the company last year after it was revealed that he was being investigated for insider trading by Canadian regulators.

Amaya recently posted their full year 2016 financial results, noting that the group brought in more than $1.15 billion in revenue.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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3 April 2017 - 10:25pm
#1

Not sure while Baazov selling, because he think the prise of the Amaya shares is good now and it would go down in future or just he don't want anything to do with the company any more, still I think from a businessman that should be a well calculated move.

lvblck
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4 April 2017 - 4:08pm
#2

I agree with you sharpe. That decision was definitely well thought of, not just a spontanuos move. Anyways, I'd love to own a share of such company.

bgsharpe
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5 April 2017 - 12:12am
#3
blck wrote:

Anyways, I'd love to own a share of such company.

And what about 200 mill in shares, sounds even slightly better a, 😉