![]() ![]() The Transaction will be financed through a combination of cash on hand, new debt, a private placement of subscription receipts, a private placement of common shares and a private placement of non-voting convertible preferred shares. Affiliates of GSO Capital Partners LP (“GSO”), the credit division of The Blackstone Group, have agreed to participate in the debt financing, to subscribe for $600 million in convertible preferred shares, and to purchase $55 million of common shares of the Corporation with each common sharepriced at C$20 upon closing of the Transaction. The boards of directors of both Amaya and Oldford Group unanimously approved the Agreement. ![]() Rational Group’s executive management team will be retained and online poker services provided by PokerStars and Full Tilt Poker will be unaffected by the Transaction,with players continuing to enjoy uninterrupted access to their gaming experience. Mr.Scheinbergand other principals of OIdford Group will resign from all positions with Oldford Group and its subsidiaries on completion of the Transaction. Under the terms of the Transaction,Oldford Group shareholders led by Mark Scheinberg, founder and Chief Executive Officer, will dispose of their shares to a wholly-owned subsidiary of Amaya. The Transaction combines complementary businesses with minimal overlap: Isle of Man-headquartered Rational Group’s B2C poker business including PokerStars, Full Tilt Poker, live poker tours and events, and online and TV poker programming and Montreal-headquartered Amaya’s B2B interactive and physical casino and lottery gaming solutions. ![]() The online poker platforms PokerStars and Full Tilt Poker are collectively the world’s most popular and profitable online poker brands with more than 85 million registered players on desktop and mobile devices. The Transaction will result in Amaya becoming the world’s largest publicly-traded online gaming company. Amaya intends to strongly support Rational Group’s growth initiatives in new gaming verticals, including casino, sportsbook and social gaming, and new geographies. Additionally, Amaya will provide an extensive selection of its online casino games to expand the nascent Full Tilt Poker casino platform. and privately held Oldford Group Limited, the parent company of Rational Group Ltd., the world’ s largest poker business and owner and operator of the PokerStars and Full Tilt Poker brands,announced today they have entered into a definitive agreement (the “Agreement”) for the Corporation to acquire 100% of the issued and outstanding shares of Oldford Group in an all-cash transaction for an aggregate purchase price of $4.9 billion (the “Purchase Price”), including certain deferred payments and subject to certain other customary adjustments (the “Transaction”).Īmaya believes the Transaction will expedite the entry of PokerStars and Full Tilt Poker into regulated markets in which Amaya already holds a footprint, particularly the U.S.A. ![]()
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