Amaya Purchase of PokerStars and Full Tilt Poker Complete
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- Amaya Shareholders Approve PokerStars Purchase Jul 31
- Regulators Worldwide Clear the Amaya/PokerStars Deal Jul 29
- French Regulator Authorizes Amaya/PokerStars Deal Jul 21
- The Sale of PokerStars and Its Implications for Player Fund Protection Jun 25
Amaya Gaming Group Inc. has completed its acquisition of PokerStars and Full Tilt Poker it announced on Friday.
The $4.9 billion deal for complete ownership of the Oldford Group Limited, parent company of Rational Group which owns and operates two of the largest online poker sites in the world, closed approximately two months ahead of the September 30 target date.
“We are extremely pleased to have completed this Acquisition,” said David Baazov, Chairman and CEO of Amaya in a press release announcing the closing.
“I’m confident that Amaya, together with Rational Group’s leadership, will continue to successfully grow the business into the future,” Rational Group Founder and CEO Mark Scheinberg added.
The completion of the highly touted acquisition comes swiftly on the heels of Amaya obtaining the required regulatory approvals from all regulatory bodies that currently license Rational Group, and the approval of Amaya shareholders.
Next Stop: New Jersey
It is anticipated that the first entry for PokerStars and Full Tilt Poker into the newly regulated US markets will be through New Jersey.
Upon learning of Amaya’s plans to acquire Rational Group and its premiere online poker rooms, David Rebuck, Director of the New Jersey Division of Gaming Enforcement told pokerfuse the regulator was “encouraged” by the news and the “expanded opportunities it might provide for New Jersey’s Internet gaming industry.”
Rational currently has a deal in place with Resorts Casino Hotel in New Jersey to provide the casino with online gaming products including poker.
Resorts has stated publicly that it plans on using both the PokerStars and Full Tilt brands once all required regulatory approvals are received from the DGE.
With the wheels turning so quickly, it is probable that PokerStars will deal its first hand of regulated US poker by the fall if not before.