ONLINE GAMBLING GIANT AMAYA GROWING PAINS

Published on November 23, 2015 in Industry News

Amaya in the USAWhen building an online company with many competitors, it’s a process that takes time, hard work, and at times, taking risks. If one company knows this to be true, it’s Amaya Gaming, a Canadian online gambling giant.

In the process of growing the company and becoming more profitable, Amaya Gaming acquired the Oldford Group. The Oldford Group is the parent company of Rational Group Ltd., the owners of the Full Tilt and PokerStars. The acquisition of the company was one of the largest on record at $4.9 billion and included more than 85 million registered players across both desktop and mobile games of popular brands.

As with any business venture, Amaya Gaming has encountered a couple of snags including possible insider trading, and another glitch which surfaced when the company applied for a license to operate in New Jersey. The New Jersey Division of Gaming Enforcement ordered the Amaya Gaming senior executives connected to PokerStars and Full Tilt to resign. In total, 4 senior executives were fired.

Once the changes were made to the senior executive’s board and the licensing process was complete, which cost the company $2 million, Amaya Gaming has been approved to enter the United States.

“We are very pleased to add New Jersey to the long list of regulated markets that have found PokerStars and Full Tilt suitable to offer real-money online gaming,” said David Baazov, Chairman and CEO of Amaya. “I want to thank the DGE for their thorough and fair review of our business. We look forward to bringing our popular brands, innovative technology, marketing prowess and world-class security and game integrity to the growing New Jersey online gaming market. We anticipate providing additional details of our launch plans in the near future.”

Amaya Gaming has also worked through many glitches including currency issues, unexpected delays, additional taxes and excessive costs which were not accounted for or expected. There have also been changes in platforms as well as technical issues that have delayed the rollout of the company’s new sportsbook operations. It seems that despite the many snags, Amaya Gaming is steadily growing and expanding.