Amaya to Change Name to ‘The Stars Group’ and relocate to Toronto, Eventually

PokerStars’ parent business Amaya has announced it intends to take the name of its most valuable child. The online gaming company that is home to the entire world’s largest poker website will call itself ‘The Stars Group Inc.’

Amaya will be going to Toronto and changing its name, marking a new era in the company’s history, one with distance from its beleaguered founder and former chairman and CEO David Baazov.

The move seeks to capitalize on the brand recognition of its most asset that is famous and, possibly, distance itself from bad press surrounding former chairman and CEO David Baazov, who is embroiled in legal troubles.

Information for the impending name-change was announced as Amaya delivered its Q1 report that is financial. It unveiled that the ongoing company would be relocating from Montreal to Toronto, a move which will let it ‘more efficiently manage its business affairs.’

Rising Tides

The business reported strong results in Q1, with overall revenue up 10 percent regarding the corresponding duration final year, to $317.3 million. On the web poker now accounts for just 69 per cent for the company’s revenue, instead of 75 percent a year ago.

This shift reflected the company’s growing diversification, through its online casino operations and BetStars sports platform that is betting more so than weakness in the poker market.

‘We continued our momentum in the quarter that is first we execu 続きを読む Amaya to Change Name to ‘The Stars Group’ and relocate to Toronto, Eventually