World's largest poker business to enter regulated online
gaming market in the United
States
MONTREAL, Sept. 30, 2015 /PRNewswire/ - Amaya Inc. (TSX:
AYA; NASDAQ: AYA) ("Amaya" or the "Corporation") today announced
that the New Jersey Division of Gaming Enforcement (the "DGE") has
authorized it to operate the PokerStars and Full Tilt brands in
New Jersey. The approval follows
an unprecedented review by the DGE of Amaya's acquisition of
PokerStars and Full Tilt in August
2014. The approval enables the entry of the world's
largest poker business into the United
States.
"We are very pleased to add New
Jersey to the long list of regulated markets that have found
PokerStars and Full Tilt suitable to offer real-money online
gaming," said David Baazov, Chairman
and CEO of Amaya. "I want to thank the DGE for their thorough and
fair review of our business. We look forward to bringing our
popular brands, innovative technology, marketing prowess and
world-class security and game integrity to the growing New Jersey online gaming market. We anticipate
providing additional details of our launch plans in the near
future."
Amaya is currently in an agreement with Resorts Casino Hotel in
Atlantic City to provide online
poker and casino offerings in New
Jersey through the PokerStars and Full Tilt brands. Amaya
has also previously received approvals from the DGE to provide B2B
online and land-based gaming solutions in New Jersey.
New Jersey
gaming regulators have a long history of stringent regulatory
oversight and enforcement of gaming operations. The DGE's review of
PokerStars was extremely thorough and exhaustive, including a
detailed review of Amaya's operations and technology, sworn
interviews with more than 70 individuals and visits to
approximately a half dozen international jurisdictions. This
stringent review found PokerStars to be under strong, ethical and
trusted ownership and management with Amaya, and worthy of
participating in New Jersey's
regulated online gaming market.
"Since the acquisition, we have consistently
delivered on our stated strategy," said Baazov. "Today's
announcement follows the divesture of our B2B businesses for total
gross proceeds of approximately US$524.8
million; the launch of casino games on PokerStars, which we
estimate has one of the largest active user bases of any online
casino; the refinancing of our long term debt and the reduction of
our annual interest expense by approximately US$62 million. We are excited about our new
product pipeline and enthusiastic that we will experience growth in
existing and emerging markets in the future."
PokerStars is the world's largest online poker site and Full
Tilt is among the world's top online gaming sites. The two brands
combined hold a strong majority share of the global online poker
market per industry estimates1, and have more than 95
million registered customers. PokerStars recently started to roll
out online casino games in select markets and is already estimated
by the Corporation to be one of the largest real-money online
casino operators in the world as measured by number of unique
players.
About Amaya
Amaya is a leading provider of technology-based solutions,
products and services in the global gaming and interactive
entertainment industries. Amaya owns gaming and related consumer
businesses and brands including PokerStars, Full Tilt, StarsDraft,
the European Poker Tour, PokerStars Caribbean Adventure, the Latin
American Poker Tour and the Asia Pacific Poker Tour. These brands
collectively form the largest poker business in the world,
comprising online poker games and tournaments, live poker
competitions, branded poker rooms in popular casinos in major
cities around the world, and poker programming created for
television and online audiences. Amaya, through certain of these
brands, also offers non-poker online gaming products, including
casino, sportsbook and daily fantasy sports.
Cautionary Note Regarding Forward Looking
Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
applicable securities laws, including, without limitation, Amaya's
anticipated operation of the PokerStars and Full Tilt brands in
New Jersey. Forward-looking
statements can, but may not always, be identified by the use of
words such as "anticipate", "plan", "continue", "estimate",
"expect", "may", "will", "project", "predict", "potential",
"targeting", "intend", "could", "might", "would", "should",
"believe", "objective", "ongoing" and similar references to future
periods or the negatives of these words and expressions. These
statements, other than statements of historical fact, are based on
management's current expectations and are subject to a number of
risks, uncertainties, and assumptions, including market and
economic conditions, business prospects or opportunities, future
plans and strategies, projections, technological developments,
anticipated events and trends and regulatory changes that affect
us, our customers and our industries. Although the Corporation and
management believe the expectations reflected in such
forward-looking statements are reasonable and are based on
reasonable assumptions and estimates, there can be no assurance
that these assumptions or estimates are accurate or that any of
these expectations will prove accurate. Forward-looking statements
are inherently subject to significant business, economic and
competitive risks, uncertainties and contingencies that could cause
actual events to differ materially from those expressed or implied
in such statements. These risks and uncertainties include those
identified under the heading "Risk Factors and Uncertainties" in
Amaya's Annual Information Form for the year ended December 31, 2014 and in its Management's
Discussion and Analysis for the period ended June 30, 2015, each available on SEDAR at
www.sedar.com, Edgar at www.sec.gov and Amaya's website at
www.amaya.com, and in other filings that Amaya has made and may
make with applicable securities authorities in the future.
Investors are cautioned not to put undue reliance on
forward-looking statements. Any forward-looking statement speaks
only as of the date hereof, and the Corporation undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
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1
Including PokerScout, Sharkscope and information provided by
various gaming regulators
SOURCE Amaya Inc.