The online gaming powerhouse from Canada, Amaya, has formally adopted the name The Stars Group following a green light from shareholders. Along with a fresh corporate emblem and online presence, the firm’s central operations have shifted from Montreal to Toronto.
Widely recognized for its control of PokerStars and BetStars, the brand revamp aims to embody a fresh phase of expansion for the enterprise. This follows closely on the heels of almost 10% overall expansion in the preceding year, although online poker earnings for the initial quarter of 2017 were documented at $218.1 million.
Nevertheless, some theorize that the name alteration is also a maneuver to separate the company from its contentious former chief executive, David Baazov. Baazov, who functioned as a high-ranking leader within the company for numerous years, is presently subject to scrutiny for insider trading connected to the company’s $4.9 billion purchase of Rational Group in 2014.
Baazov had put forth an offer to take Amaya private in the previous February, but those strategies were swiftly set aside after he discovered that he was under investigation by Quebec’s securities regulator, the Autorité des marchés financiers.
As Amaya evolves into The Stars Group and establishes itself in its new main office, the company is also witnessing investment from overseas. Hong Kong entrepreneur Tang Hao is boosting his ownership in the company and will shortly possess over 15%.
