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 (see previous InfoPowa report).

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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