Amaya confirms investigation into PokerStars acquisition
Financial regulator in Canadian province of Quebec investigating "trading activities" surrounding Amaya's $4.9bn acquisition of the Rational Group
Amaya Gaming has confirmed that its $4.9bn acquisition of PokerStars parent company the Rational Group is under investigation by the financial regulator in the Canadian province of Quebec.
The Toronto-based firm said the Autorité des marchés financiers (AMF), the securities regulatory authority in the province, was investigating “trading activities in Amaya securities” surrounding its takeover of the Rational Group.
“To the corporation’s knowledge, this does not involve any allegations of wrongdoing by the corporation,” Amaya said in a statement released yesterday.
“Amaya will continue to cooperate, if and as requested, consistent with our practice to always cooperate with regulatory authorities.
“The corporation will continue to monitor the investigation if and as it proceeds. The investigation has had no impact on Amaya’s business operations, employees or companies,” it added.
The statement was released in response to reports in Forbes, which claimed federal police and financial regulators visited Amaya’s offices on Wednesday, plus two financial firms associated with the Stars’ acquisition.
Forbes said the AMF and Royal Canadian Mounted Police showed up at the Montreal offices of Amaya, Canadian investment bank Canaccord Genuity, and Manulife Financial, a Canadian insurance firm.
“[Wednesday’s] operation is part of an AMF investigation on that company [Amaya]. I can’t go further for the moment,” Sylvain Théberge, a spokesman for Autorité des Marchés Financiers, told Forbes.
Amaya’s share price is down 16.6% to $29.24 at the time of writing.