Amaya Gaming is the owner behind the PokerStars brand and several other online gaming businesses. Within the past year, the company has faced hard times and as a result, is seeking to evolve by relocating to a new area and changing their name. Currently based in Montreal, Amaya has plans to move to Toronto and take on the new name The Stars Group Inc.
Amaya will not be able to make the change until shareholders give approval next month. The head office will move to Toronto once a replacement chief financial officer is named, as the current CFO has announced he plans to retire. According to Chief Executive Rafi Ashkenazi, the company is set to make these changes as they continue to grow and alter their gaming offerings.
Ashkenazi stated in a recent conference call that as Amaya takes on the transformation, the company will look to embrace the future of their business while recognizing the incredible consumer goodwill and loyalty that is associated with their primary brand.
Ashkenazi took on the role with Amaya Gaming after David Baazov stepped down and has been working to improve the management team of the company as well as paying down debt and reducing the exposure to online professional poker players.
Amaya has shifted their focus when it comes to gaming offerings with poker making up 75% of the company’s revenues during the first quarter of last year and down to 69% this year. Online casino games along with sports betting was able to grow due to changes within the company, moving from 21% from the first quarter of last year to 27% this year.
Amaya has been headquartered in Montreal since 2004 when the company was first founded by Baazov. The company became the largest publicly listed online poker brand in the world once they acquired the parent company of PokerStars for $4.9 billion.