Amaya will become world’s largest online gaming company after $4.9 billion purchase
The Canadian gambling equipment and systems maker, Amaya Gaming Group, is soon to purchase the world's largest poker business Rational Group, making it the biggest online gaming company in the world.
The deal will involve Amaya purchasing Rational Group, which owns popular brands Full Tilt Poker and PokerStars, for $4.9 billion (£2.8 billion) in an all cash transaction.
A gaming giant emerges
With more than 85 million members registered, PokerStars and Full Tilt Poker are together the world's most profitable poker platforms and the purchase of the company will result in Amaya becoming the largest online gaming company in the world.
The chief executive officer of Amaya, David Baazov, commented on the acquisition of Rational Group and its CEO:
“Mark Scheinberg pioneered the online poker industry, building a remarkable business and earning the trust of millions of poker players by delivering the industry’s best game experiences, customer service and online security. Working with the experienced executive team at Rational Group, Amaya will continue that tradition of excellence and accelerate growth into new markets and verticals".
Putting the past behind them
Mark Scheinberg, "bone fide billionaire."
The deal struck with Amaya will make Mark Scheinberg, CEO of Rational, a fully-fledged billionaire. Scheinberg's father Isai who is also the founder of the company, is currently under indictment in the US after he was charged with illegal gambling, money laundering and bank fraud in April 2011.
Looking to a hopeful future with Amaya, Scheinberg added in a statement:
“I am incredibly proud of the business Isai and I have built over the last 14 years, creating the world’s biggest poker company and a leader in the iGaming space. Our achievements and this transaction are an affirmation of the hard work, expertise and dedication of our staff, which I am confident will continue to drive the company’s success. The values and integrity which have shaped this company are deeply ingrained in its DNA. David Baazov has a strong vision for the future of the Rational Group which will lead the company to new heights".