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Amaya To Pay $4.9B For Oldford, Forming World's No. 1 Online Gambling Firm

Published 06/13/2014, 07:58 AM
Updated 06/13/2014, 09:58 AM
Amaya To Pay $4.9B For Oldford, Forming World's No. 1 Online Gambling Firm
BX
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By Mike Obel - Gambling equipment maker Amaya Gaming Group Inc. will pay $4.9 billion in cash to buy the world's largest poker business and owner of the PokerStars and Full Tilt Poker brands, to create the world's largest online gambling company.

To help finance Amaya's deal to buy privately held Oldford Group Ltd., parent of Rational Group Ltd., said late Thursday it has arranged financing from a unit of the Blackstone Group LP (NYSE:BX). Amaya also will issue common shares and preferred shares to help pay for the acquisition.

© Amaya Group. Amaya Group, maker of gambling equipment and systems.

Rational Group is the world's largest poker business and the owner of the PokerStars and Full Tilt Poker brands, Amaya said.

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