A rose by any other name…
Whether it’s an innocent make-over, a clever strategy move or simply flight from scandal, companies seem to be changing their names these days the way most of us change socks.
To help you keep track, here’s a roundup of some big ones — forthcoming and recent.
Amaya has just revealed plans to seek shareholder approval this summer for a company name change. No new name was put forth.
Speculation is that this is a move by Amaya to distance itself from the AMF investigation of former CEO Baazov who resigned after being charged with insider trading. The trial is set for November this year.
Baazov, despite a recent sale of seven million shares, is still the biggest shareholder with more than a 12% stake in the company.
Two months ago, at the end of January of this year, Intertain began trading as Jackpotjoy, adopting the name of the company’s largest consumer brand.
On December 12, 2016 Unibet began trading as Kindred Group plc.
The name change was seen as a way to reflect the growing diversity of the company, founded nearly twenty years ago, and to unify all their brands, including acquisitions. The Kindred Group portfolio of ten consumer brands includes Stan James, MariaCasino, Bingo.com and online poker site Unibet.
Shareholders approved the name change at an extraordinary general meeting in Stockholm in early December 2016, according to a company press release.