TSXV:NYX.DB - Post by User
Post by
petrofacon May 15, 2017 9:32am
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Post# 26243884
Amaya...reducing exposure to poker
Amaya...reducing exposure to poker could NYX be in their sights?
Globe/CP say Amaya beats expectations, to change name
2017-05-15 06:05 PT - In the News
The Globe and Mail reports in its Saturday edition that Amaya ($26.51) is changing its name and relocating to Toronto. A Canadian Press dispatch to The Globe says that Montreal-based Amaya says it will become "The Stars Group Inc." after shareholders give their approval next month and move its head office after it hires a replacement for its chief financial officer. Chief executive officer Rafi Ashkenazi said Friday during a conference call, "As we undergo this transformation, we look to embrace the future of our business while also recognizing the incredible consumer goodwill and loyalty associated with our primary brand." Mr. Ashkenazi, who replaced founding CEO David Baazov last year, has been changing Amaya's management, paying down debt and reducing its exposure to professional on-line poker players. Poker made up 69 per cent of Amaya revenue in this year's first quarter, compared with 75 per cent a year earlier. In the first quarter of 2017, Amaya beat analyst estimates with revenue at $317.32-million, up 10 per cent from last year. It earned $66.75-million or 33 cents per diluted share in the three months ended March 31, up from $55.5-million or 28 cents a share a year earlier.