David Baazov, Canadian Amaya Gaming Group’s CEO grabbed the attention of four major slot companies’ chief executives at a recent Global Gaming Expo round table. Baazov designed Amaya Group’s acquisition of gaming giant PokerStars, and the deal is believed to be one of the most intriguing gaming equipment transactions of the decade.
In case Baazov, 33, becomes successful in restoring PokerStars’s USA presence, there would be a dramatic enhancement in the online gambling market’s financial prospects in the country.
PokerStars’s prospects in the USA
With a gaming license in New Jersey, the online gambling platform is expected to operate the online platform for Resorts Atlantic City. The competition, however, does not want PokerStars to establish its presence in the region. The company has control of over 50 percent of the gaming traffic across the world (outside of the USA), and with the latest deal, it is expected that the former US-based customers will be drawn too.
Previously, PokerStars operated illegally in America, and after the 2006 passing of the Unlawful Internet Gambling Enforcement Act, the company paid over $731 million to settle its charges. Since then, PokerStars has not been operational in the USA. Amaya later bought PokerStars in a deal that ended on 1st August. Amaya is the licensed provider of gaming equipment to several states in the USA including NJ, and it also has licenses with Canadian and European provinces. It is, however, not licensed in Nevada.
David Rebuck, Director of NJ Gaming Enforcement Division, said in September to the Las Vegas Review Journal that the agency is investigating the buyout of PokerStars. The new operations in NJ will unblock the company’s future in America.
More on the deal
Before the deal to Amaya, the PokerStars website had an ongoing deal with Morongo Band of Mission Indians. Due to a “bad actor clause,” however, the deal didn’t fall through. Baazov said after finalizing Amaya’s deal that the slot machines across online casinos will come with the latest technology additions that will definitely not disappoint the millennial gamblers across USA. The deal was successful because of a combination of good capital and low interest rates, he added.