A prominent figure in the internet gaming industry, Amaya, has undergone a transformation, rebranding itself as The Stars Group. This Canadian enterprise, renowned for its well-known platforms PokerStars and BetStars, declared the change after securing shareholder consent earlier this year. The rebranding initiative encompasses a revitalized logo, an updated website, and a relocation from Montreal to a gleaming, modern headquarters in Toronto.
This shift marks a new era for the corporation, one they trust will mirror their consistent expansion. Despite a minor decline in online poker earnings in the initial quarter of 2017, Amaya has experienced an almost 10% growth trajectory over the preceding year.
Nevertheless, some theorize that this rebranding is also a calculated maneuver to separate the company from its contentious history and former chief executive, David Baazov. Baazov, who held various executive positions within the organization for several years, is presently facing scrutiny for purported insider trading connected to the $4.9 billion purchase of Rational Group back in 2014.
Further fueling speculation, Baazov attempted to take Amaya private last February, but those intentions were swiftly thwarted when Quebec’s securities regulator, the Autorité des marchés financiers, initiated their inquiry.
As The Stars Group sets off on this fresh path, they are also embracing new participants in their investor group. Hong Kong entrepreneur Tang Hao is progressively raising his stake in the firm, with forecasts indicating his ownership surpassing 15%.