Tag Archives: Amaya

Baazov Case Dismissed in Insider Trading Allegations

Ex-CEO of Canada online poker firm free and clear following dismissal of insider trading allegations. After more than two years, David Baazov‘s prognostication that he would be cleared of all insider trading charges against him has come true. Earlier this month, Quebec Judge Salvatore Mascia dismissed the insider trading case against Baazov and two co-defendants, granting the defence’s motion for a stay of proceedings after the prosecution fumbled hundreds of thousands of case documents. Ex-CEO of Canada Online Poker Firm Off the Hook In March of 2016, then-CEO of Amaya Inc. (now The Stars Group), David Baazov, was charged with insider trading. Quebec’s securities regulator, Autorité des marchés financiers (AMF), alleged that Baazov, two other defendants, Yoel Altman and Benjamin Ahdoot, and three related companies, had engaged in illegal trading practices to raise the necessary capital to complete the 2014 acquisition of Rational Group; parent company of the world’s largest … Continue reading

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Q1 Profits Soar for Canada Internet Betting Firm Amaya

Things are looking way up these days for Amaya Inc., the Canada internet betting giant that owns PokerStars. According to the latest financial reports, the company experienced a substantial rise in first quarter (Q1) revenue, attributed largely to a spike in customer activity. “We continued our momentum in the first quarter as we execute on our strategy and reinforce the foundation for sustainable and diversified revenue growth, including through the strengthening of our core management team and operations,” said Amaya CEO Rafi Ashkenazi in this morning’s release of the Q1 Revenue Report. “Our company also continues to evolve through corporate initiatives to deliver the greatest value for our shareholders,” he added. Amaya Beats Analysts’ Predictions For the first three months, ending March 31, 2017, Amaya reported a rise in income to US $65.8 million, or $0.33 per share. Those figures represent an 18.5% increase over last year’s Q1 revenue, totaling … Continue reading

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