Canada – Amaya completes Rational purchaseBy Phil - 4 August 2014
Amaya Gaming has now completed its previously announced acquisition of Oldford Group Limited, the parent company of Isle of Man-headquartered Rational Group, the owner and operator of the PokerStars and Full Tilt Poker brands, for US$4.9bn.
“We are extremely pleased to have completed this Acquisition,” said David Baazov, Chairman and CEO of Amaya. “Through PokerStars, Full Tilt and its multiple live poker tours and events, Rational’s brands comprise the world’s largest poker business, generating diversified and recurring revenues across the globe from its extremely loyal customer base.
Rational’s success is attributable to the company’s core values of integrity, customer focus, and challenge. These values are ingrained in the DNA of the company’s staff located across the globe, led by Rational’s deep, experienced executive and leadership teams. We intend for Rational to maintain this culture and will support its initiatives to continue growing this world class business.”
Rational Group Founder and CEO Mark Scheinberg said: “Since launching PokerStars in 2001 we have grown the business each year thanks to constant innovation, unparalleled customer service, and the talent of our dedicated workforce. While myself and other founders are departing, we are happy to see the business and the brands we have developed, along with the teams behind them, transferred to strong new ownership. I’m confident that Amaya, together with Rational Group’s leadership, will continue to successfully grow the business into the future.”