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Amaya Gaming Sells Cadillac Jack
Tuesday March 31,2015 : AMAYA GAMING OFFLOADS CADILLAC JACK
Montreal online gambling group confirms it has sold slots manufacturing subsidiary to AGS.
The Amaya Gaming group in Montreal has shed another subsidiary as part of its strategy to concentrate on internet and mobile gaming, confirming that it has entered into a sales agreement with AGS for Cadillac Jack, a slots manufacturing company.
AGS is associated with fund management group Apollo Global Management LLC, which has about US$160 billion of assets under management, and the consideration for the acquisition of Cadillac Jack is Cdn$476 million, with Cdn$260 million paid up front.
Amaya bought Cadillac Jack in 2012 for Cdn$177 million.
CEO David Baazov said that Cadillac Jack had grown substantially under Amaya management, moving into new markets.
"We are confident that combining Cadillac Jack with AGS presents a strong opportunity to expedite the company's growth strategy, while at the same time crystallizing on the strong value created in the business to benefit Amaya's shareholders," Baazov said.
Last week, Amaya announced it was spinning off its Diamond Game Enterprises subsidiary through an initial public offering of a newly formed Innova Gaming Group
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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