Stock Run-up On Pokerstars Acquisition Alerted Amaya Gaming
By Casinomeister, Last updated Jan 23, 2015
CEO Baazov says he's not surprised the Quebec Financial Markets Authority is investigating
Amaya Gaming chief exec David Baazov said in an interview this week with Business News Network that he had anticipated an investigation following a noticeable stock run-up in advance of his company's acquisition of Pokerstars owner the Rational Group last year.
He was not disappointed; in the closing weeks of 2014 the Quebec Financial Markets Authority visited the offices of Amaya and other parties involved in the $4.9 billion deal in what Baazov continues to claim was a routine regulatory check on procedures (see previous InfoPowa reports).
"The investigation is something we anticipated given that there was an historic stock run up in advance," Baazov told BNN. "We have no evidence of any wrongdoing and we're cooperating with the investigation."
The results of the investigation, which is presumably still ongoing, have yet to be published.
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