Suspended CEO David Baazov has seen steady pay rises
The Canadian newspaper MySask reports that the currently suspended CEO of the Amaya gambling group, David Baazov, enjoyed a 71 percent rise in salary last year to $1.04 million which included $41,227 in option-based awards.
Baazov is currently on voluntary suspension whilst he fights insider trading accusations by the financial regulator in Quebec. Baazov will have his day in court on September 7, the newspaper reports.
Quoting numbers from a regulatory filing ahead of Amaya's annual meeting on June 28 this year, MySask revealed that Baazov's salary increase compares to $639,847 in 2014, when Amaya completed its US$4.9 billion acquisition of PokerStars and Full Tilt. Baazov also has equity in the company worth around $6.6 million.
Amaya earned $239 million on $1.37 billion in revenues last year, a turnaround from its loss of $7.5 million on $553.7 million in revenues a year earlier.
The terms of Baazov's contract were also covered in the filing, revealing that in the event of an unjustified dismissal he would be entitled to compensation of $6 million.
Chief financial officer Daniel Sebag, who is also leaving his position on the board, received $832,232 in compensation, up from $532,741 in 2014, the filing showed.
The current interim CEO of Amaya, Rational Group survivor Rafi Ashkenazi, saw his total compensation more than triple in 2015 to $2.14 million from $665,616.
Ashkenazi was not the only top executive from Rational Group who remained following the Amaya acquisition. Israel Rosenthal is still in-post and earned $1.85 million last year, whilst Michael Hazel, who has since departed with a $2.3 million golden parachute, earned a similar reward.
Online Casino News Courtesy of Infopowa