MONTREAL, Feb. 1, 2016 /CNW/ - Amaya Inc. (NASDAQ:
AYA; TSX: AYA) confirmed today that it has received a non-binding
indication from its Chairman and Chief Executive Officer,
David Baazov, that he intends to
make an all-cash proposal to acquire Amaya at a price currently
estimated by Mr. Baazov to be C$21.00
per common share. The board of directors of Amaya has
established a special committee of independent directors to review
any proposal that may be forthcoming, as well as other alternatives
that may become available to Amaya. Amaya's Lead Independent
Director, Dave Gadhia, will chair
the special committee.
As of the time of this release, the special committee has
neither received nor solicited a formal bid or offer related to a
potential transaction and there can be no assurance that Mr.
Baazov's intention will result in a formal bid or offer or that any
such bid or offer will ultimately result in a completed
transaction.
Shareholders of Amaya do not need to take any action with
respect to any potential proposal at this time. Amaya intends to
provide updates if and when necessary in accordance with applicable
securities laws.
About Amaya
Amaya is a leading provider of technology-based products and
services in the global gaming and interactive entertainment
industries. Amaya owns gaming and related consumer businesses and
brands including PokerStars, Full Tilt, BetStars, StarsDraft, the
European Poker Tour, PokerStars Caribbean Adventure, Latin American
Poker Tour and the Asia Pacific Poker Tour. These brands have more
than 97 million cumulative registered customers globally and
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 gaming products, including casino,
sportsbook and daily fantasy sports. Amaya has various gaming and
gaming-related licenses or approvals throughout the world,
including from the United Kingdom,
Italy, France, Spain, Estonia, Belgium, Denmark, Bulgaria, Greece, Ireland, Romania, the Isle of
Man, Malta, the State of
Schleswig-Holstein in Germany, the Province of Quebec in Canada, and the State of New Jersey in the United States.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
applicable securities laws, including, without limitation, the
intentions of Amaya's Chief Executive Officer and certain potential
future transactions. Forward-looking statements can, but may not
always, be identified by the use of words such as "anticipate",
"propose", "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 Amaya 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. Applicable risks and uncertainties
include, but are not limited to, 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 September 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 Amaya 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.
SOURCE Amaya Inc.