Playtech Rumours Are On The Rise

Playtech Rumours Are On The Rise

Wednesday, 9 March 2016

Shares in online casino software and services provider Playtech have risen amid rumours that the Isle Of Man-based firm could join a private investment group looking to take over operator Amaya Incorporated.

Montreal-based Amaya Incorporated is the parent of online poker sites PokerStars and Full Tilt with its current Chief Executive Officer, David Baazov, soon expected to lead an all-cash offer for the enterprise that could rise to as high as CAN$4.39 billion ($3.13 billion).

The move from Baazov, who already owns 18.6 percent of Amaya Incorporated, comes less than two years after the Canadian firm purchased online poker operator Rational Group and its pair of domains for just over CAN$6.5 billion ($4.9 billion) with the company currently implementing changes that include the launching of new online sportsbetting and casino platforms.

According to reports from the Bloomberg news service, Playtech founder Teddy Saggi may be a part of the consortium Baazov has put together to fund his offer while Swiss global finance firm UBS recently confirmed that eight of its financial analysts had given the Manx company a ‘strong buy’ rating.

In financial terms, such a rating means that experts believe Playtech is likely to experience strong positive financial performance over the coming months although no one at the firm has yet commented on the speculation.

As yet, there has been no formal bid from Baazov or any other party but reports released last month quoted a number of sources suggesting that the Canadian firm’s board was confident that at least one would be forthcoming before the end of March.

Tags: Amaya Incorporated, Playtech, Bloomberg, Teddy Saggi, David Baazov, Rational Group, Isle Of Man, Montreal