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petrofacon Mar 23, 2017 9:42am
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Post/CP say Amaya strives for new look, new name
Post/CP say Amaya strives for new look, new name Post/CP say Amaya strives for new look, new name
The Financial Post reports in its Thursday edition that Amaya is refilling its senior executive group, including the hiring of a new chief financial officer, and plans to devote more money to marketing and improved investor relations and communications. A Canadian Press dispatch to the Post quotes chief executive officer Rafi Ashkenazi as saying during a conference call Wednesday, "The Amaya you see today is quite different than the Amaya of 2015 and by the end of this year we expect to have opened a new chapter in our growth story." Shareholders will also be asked to approved a name change at the next annual meeting this summer, Mr. Ashkenazi told analysts. A company spokesman later said the proposed name will be disclosed ahead of the vote, but declined to say why the change is being sought. Analyst Kevin Wright at Canaccord Genuity said he would not be surprised to see the name change to PokerStars, which Amaya acquired as part of a $4.9-billion deal in 2014 (all figures U.S.). Amaya swung to a $45-million net profit or 23 cents per share for the fourth quarter ended Dec. 31, up from a year-earlier loss of $15.2-million or 11 cents per share. Revenue increased 5.9 per cent to $310.4-million.