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Pokerstars CEO Cuts Ties
BAAZOV SEVERS TIES WITH AMAYA
Suspension becomes permanent departure as Rafi Ashkenazi confirmed in post of CEO.
This weeks surprise announcement came from Amaya, which reported that its suspended CEO, David Baazov, has left the company altogether and that interim chief exec Rafi Ashenazi has accepted the post as a permanent position.
Our readers will recall that Baazov voluntarily took suspension at the beginning of this year as he fought to clear his name on insider trading charges levelled by the Quebec securities authorities.
Baazov has resigned all of his positions with Amaya, but has in the past intimated that he is assembling partnerships with a view to making an offer for the company. Amaya has revealed that it is still considering its options in this regard.
Baazov commented on his departure in a statement, saying:
“I am proud of my contributions in building Amaya into the successful company it is today, and continue to be supportive of its strategy and management.”
Amayas second quarter results were also posted this week, showing an imprssive jump in net earnings, along with a 24.5 percent hike in adjusted earnings and a 10 percent rise in revenue calculated in US currency.
The companys adjusted earnings rose to $89.7 million or 46 cents per share from $72.1 million or 36 cents per share in the comparative period in 2015.
Real-money online poker revenue for the quarter was generally stable y-o-y at $215.6 million, whilst online casino and sportsbook revenue represented 21 percent (Q2-2015: 12 percent) of total quarterly revenue of $285.9 million (up 10.2 percent year-on-year). Pokers contribution to group revenue fell from nearly 90 percent last year to 75 percent this year.
The half-year 2016 performance of the company shows an 8 percent rise in group revenue to $5.7 billion, and EBITDA up 12 percent at $253 million, with customer registrations rising by 1.9 million to 103 million.
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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