Amaya Shares Rise 18 Percent Following Gaming Regulators Approval
It’s been a good few months for shareholders of Amaya Gaming. On Tuesday their share price rose a record 18 percent after the Canadian company’s acquisition or the parent company of PokerStars Rational Group was approved by gaming regulators.
The $4.9 billion deal is one of the biggest in the last few years in the gaming industry. PokerStars is the largest online poker firm with over 80 million registered users. This latest approval is yet another step for them towards expanding into the U.S online gambling market which shunned them until recently.
Rational already has online poker licenses in Europe including France, Denmark, Belgium and Germany. Following the good news Amaya’s Share price rose in Tuesday to $30.60 which made them among the top gainers in the Toronto Stock Exchange. Share trading was hectic as over 2.3 million shares swopped hands.
As we reported in previous articles PokerStars are using Amaya Gaming as a new face in order to gain entry into the U.S online poker market. Ever since the Justice Department reviewed their stance on the Wire Act of 1961 in 2011, the possibility of legally operating online poker in the U.S had become a reality.