Canada – Amaya considers options with Cadillac JackBy Phil - 21 October 2014
In a move that will spark rumours it is about to sell, Amaya Gaming Group has initiated a strategic review process to explore alternatives for its B2B land-based gaming solutions business, Cadillac Jack.
The strategic review will consider various alternatives for the company identified by Amaya’s and Cadillac Jack’s executive management, with the fundamental objective of expediting Cadillac Jack’s growth strategy and maximising value for Amaya’s shareholders.
“In light of recent consolidation within the gaming machine supplier industry, we believe that this is an appropriate time to review and evaluate potential strategic alternatives for Cadillac Jack that may further maximize value for our shareholders,” said David Baazov, Chairman and Chief Executive Officer of Amaya.
“Cadillac Jack has matured greatly as a company under Amaya’s ownership. We have developed a robust product library and enhanced our operational efficiencies. We will now consider alternatives that will accelerate our market expansion and add value to our current and prospective customers,” said Mauro Franic, Chief Operating officer of Cadillac Jack.
Amaya has engaged Macquarie Capital and Deutsche Bank Securities Inc. as co-financial advisors to assist the Corporation with the strategic review of Cadillac Jack.
There can be no assurance that the Corporation’s strategic review process will result in the consummation of any specific action. There is no defined timeline for the strategic review and the Corporation does not intend to disclose additional information or further developments with respect to this process unless and until Amaya’s Board of Directors reviews and approves a specific action or otherwise deems further disclosure is appropriate or required.