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Amaya Gaming Under Investigation Over PokerStars Acquisition

Without a doubt one of the biggest stories in the gaming world for 2014 was Amaya Gaming’s acquisition of PokerStars parent company Rational Group. What makes this story even more interesting is that the rumor mill started already in May which meant that Amaya’s share price was the ideal hunting grounds for speculators looking to earn a fortune.

No one could have guessed that it would skyrocket by over 340 percent since the June announcement. This meteoric spike in Amaya’s share price has now got many asking the question if there was any fishy business underway from when the rumors started to the actual acquisition. In the weeks that led up to the acquisition many speculators earned a fortune as the rumors were just about confirmed by anyone in the know.

Today the Canadian based Amaya Gaming confirmed that there is an investigation underway into the trading of their stock. In a statement they confirmed their co-operation with the Autorité des marchés financiers, Quebec’s securities watchdog. The probe is putting the spotlight on the entire acquisition of PokerStars parent company, the Rational Group by Amaya. PokerStars has the largest online poker player base with over 85 million players combined with their Full Tilt Brand.

Amaya further said in a statement that,” To the Corporation’s knowledge, this does not involve any allegation of wrongdoing by the Corporation. Amaya will continue to cooperate, if and as requested, consistent with our practice to always cooperate with regulatory authorities.” Although PokerStars have been doing their best to re-invent their public image this latest investigation takes them back to the days where they were shut down by the U.S. Federal authorities.

Author: Victor

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