The gaming powerhouse from Canada, formerly Amaya, renowned for its control of PokerStars and BetStars, has undergone a transformation into The Stars Group. This strategic maneuver, encompassing a revitalized corporate image and online presence, comes on the heels of investor endorsement earlier in the year. The firm also shifted its primary offices from Montreal to Toronto.
This name change marks a new chapter for the enterprise, mirroring its robust expansion. Despite a minor decrease in online poker earnings in the initial quarter of 2017, Amaya, now The Stars Group, witnessed almost 10% overall growth in the preceding year.
This shift is potentially an effort to separate the corporation from its contentious former chief executive, David Baazov, who faces accusations of illicit trading. These claims originated from the $4.9 billion purchase of The Rational Group in 2014.
Further complicating matters, Baazov had previously indicated a desire to take Amaya private. Nevertheless, these intentions were swiftly abandoned after an inquiry was initiated by Quebec’s financial regulatory body.
The name change and relocation occur alongside heightened international investment in The Stars Group. Specifically, Hong Kong entrepreneur Tang Hao has augmented his ownership in the company to exceed 15%.