Amaya Gaming Group Inc. announced today the completion of its previously announced acquisition of 100% of the issued and outstanding shares of privately held Oldford Group Limited (“Oldford Group”), the parent company of Isle of Man-headquartered Rational Group Ltd. (“Rational Group”), the owner and operator of the PokerStars and Full Tilt Poker brands, in an all-cash transaction for an aggregate purchase price of $4.9 billion (the “Purchase Price”), including certain deferred payments and subject to customary purchase price adjustments (the “Acquisition”). All $ figures are in US dollars unless noted otherwise.
“We are extremely pleased to have completed this Acquisition,” said David Baazov, Chairman and CEO of Amaya. “Through PokerStars, Full Tilt and its multiple live poker tours and events, Rational’s brands comprise the world’s largest poker business, generating diversified and recurring revenues across the globe from its extremely loyal customer base.
Rational’s success is attributable to the company’s core values of integrity, customer focus, and challenge. These values are ingrained in the DNA of the company’s staff located across the globe, led by Rational’s deep, experienced executive and leadership teams. We intend for Rational to maintain this culture and will support its initiatives to continue growing this world class business.”
Rational Group Founder and CEO Mark Scheinberg said: “Since launching PokerStars in 2001 we have grown the business each year thanks to constant innovation, unparalleled customer service, and the talent of our dedicated workforce. While myself and other founders are departing, we are happy to see the business and the brands we have developed, along with the teams behind them, transferred to strong new ownership. I’m confident that Amaya, together with Rational Group’s leadership, will continue to successfully grow the business into the future.”
Source: Press Release by PokerStars.