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PokerStars and Amaya Gaming to Join Forces?
Ongame network parent company Amaya Gaming is rumoured to be preparing to gain control over PokerStars, enabling the latter to finally grab a share of the US market.
According to CalvinAyre, the market leader online poker room PokerStars and Ongame network owner Amaya Gaming may fuse in the near future. Stock exchange movements seem to support the rumours, as Amaya shares have increased significantly in recent days: from $7.71 per share on Monday, on Friday they closed at $10.25.
The value of the Amaya Gaming shares has increased over the past month as follows:
The unnamed source cited by CalvinAyre has reported that Amaya Gaming would nominally take over the management of PokerStars, according to the agreement, to eliminate the last obstacle in the way of the room to gain access to the US market. PS is currently not eligible to be licensed on any regulated US markets as it is still maintaining its relations with company founder Isai Scheinberg, under the direction of whom the room had been offering its services illegally in the USA for years. While Scheinberg resigned in July 2013 as a result of an agreement with the US Department of Justice, he is in fact still involved with the management of PokerStars and its parent company Rational Group. The firm is currently headed by his son Mark.
It seems unlikely that Amaya Gaming would actually purchase PokerStars and assume direct control, as they probably lack the necessary funds. The net worth of Amaya is around $500 million; even though PokerStars is privately owned, therefore its worth can only be estimated, the purchase is more than likely beyond the limits of Amaya.
Consequently, a fusion with Amaya Gaming seems to be a means for PokerStars to bypass the legal barriers and enter the US market, given that Amaya is already holding a licence there. No official statement, however, has been released on the matter by PokerStars or Amaya.
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