22 Dec
In News
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David Baazov backs out from Amaya takeover bid

Former Amaya boss David Baazov has backed out in his bid to acquire the PokerStars owner after a disagreement with regards to the valuation.

Baazov, founder of Amaya, was willing to buy the company in mid-November in for approximately $4.1 billion (€4 billion).

If the transaction costs were taken into account then the bid was worth $6.7 billion.

This move was opposed by Amaya shareholder SpringOwl Asset Management, citing lack of transparency.

The negotiations received another jolt when KBC Aldini, a Dubai-based investor, backing for the deal announced was given without the approval of the firm.

“It became evident that the share price premium demanded by certain shareholders exceeded the price at which my investors and I would be willing to complete a transaction,” Baazov said in a statement.

“Amaya confirmed today that discussions with its former chief executive officer, David Baazov, regarding the offer to acquire Amaya by an entity to be formed, have terminated,”read the statement from Amaya.

Baazov was forced to step down from his position as chief executive earlier this year after he was charged with multiple counts of illegal insider trading by the Autorité des marchés financiers (AMF), Quebec’s securities regulator. These charges were leveled against Baazov with regards to Amaya's $4.9 billion acquisition of Rational Group.

However, none of these charged have been proven in court.

Simona

Kai started working in the Gaming Industry in 2001 when he managed a Horse Betting Shop in Germany. With the more and more upcoming needs for Sportbetting Solutions for the German speaking market he moved in 2003 in Malta where he built up TopSportWetten, one of the first Sportbetting operators working from Malta with a Remote Gaming License.

In 2005 he moved to a new venture and joined the newly formed Team of BetUnited, a Company that had the goal to target the German speaking online market with a full portfolio of Betting, Poker, Casino and Games of Skill.

In 2007 he left BetUnited and concentrated on helping new Companies coming to Malta to obtain a remote gaming license and establish operators on the island.

In 2011 he founded Simka Consulting to combine his knowledge in the operational part of the IGaming Business with the Marketing expertise of Simona.

Past Projects:

  • TopSportWetten - Managing Director and Key Official
  • Bet United - Managing Director and Key Official
  • MMBet - Managing Director and Key Official
  • Olympia Bet - Managing Director and Key Offical
  • Production Planning and Project Manager - Infratec Pro Ltd.

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