The Stars Group

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The Stars Group Inc.
Public
Traded as NASDAQTSG
TSXTSGI
Industry Online Gaming
Predecessor Amaya Inc.
Founded 2001; 17 years ago (2001)
Headquarters Toronto, Ontario, Canada
Area served
Worldwide
Key people
Rafael 'Rafi' Ashkenazi
(CEO)
Divyesh 'Dave' Gadhia
(Chairman)
Products PokerStars, Full Tilt Poker, BetStars, PokerStars Casino, PokerStars Championship, PokerStars Festival, PokerStars MEGASTACK
Number of employees
1,800 (2017)
Website www.starsgroup.com

The Stars Group Inc. (formerly known as Amaya Inc., Amaya Gaming Group Inc. and Rational Group) is a Canadian gaming and online gambling company traded on Nasdaq and the Toronto Stock Exchange (symbol TSXTSGI)/(NASDAQTSG) and headquartered in Toronto, Ontario, Canada.

Operations[edit]

The company produces and offers online gaming products and services including poker, casino and sportsbook through its online gaming division, Stars Interactive, these online brands are PokerStars, PokerStars Casino, BetStars and Full Tilt Poker.

The Stars Group is also the owner of the PokerStars Championship, PokerStars Festival and MEGASTACK live poker tournament brands, and brands live poker rooms including PokerStars Live at the Hippodrome Casino London, PokerStars Live at the City of Dreams in Macau and PokerStars Live at the City of Dreams in Manila.

Stars Interactive is headquartered in Onchan, Isle of Man where PokerStars has had an office since its early inception.

Licensing[edit]

Stars Interactive, the online gaming division of The Stars Group, has licences or related approvals to operate from 17 jurisdictions and offers its products and services in Europe, North America and elsewhere; in the jurisdictions where it operates, it either maintains a local licence or approval, or uses multi-jurisdictional licences issued by the Isle of Man or Malta.

Corporate History[edit]

In June 2014, the company agreed to buy the parent company of PokerStars and Full Tilt Poker, owned by Isai and Mark Scheinberg, for $4.9 billion[1][2] borrowing $3 billion for the deal.[3] The takeover made The Stars Group, then called Amaya, the world's biggest publicly listed online gambling company,[4] the deal was closed on August 1, 2014,[5] with final payment being made on May 31, 2017.[6]

David Baazov was Amaya's CEO at that time;[7] in March 2016, following charges by Canadian regulators with multiple securities fraud charges,[8] he took an indefinite leave of absence,[9] and resigned in August.[10] On December 20, 2016, Baazov dropped a bid to buy the company with a "virtually unknown" group of outside investors, one of whom denied being involved.[11]

In December 2015, a Kentucky court ordered that Amaya pay $870 million in penalties to cover alleged losses by the state's residents who played real-money poker on the PokerStars website between 2006 and 2011.[12]

Current CEO Rafi Ashkenazi became Interim Chief Executive Officer of The Stars Group, then Amaya, in March 2016 and then permanent Chief Executive Officer in November, 2016.

On August 1, 2017, the company changed its name to The Stars Group Inc.[13]

Retired US Army General and former Democratic Party presidential nominee Wesley Clark is a former member of the board of directors.[14]

In April of 2018, the company acquired UK-focused Sky Betting & Gaming for cash and stock worth $4.7 billion.[15]

References[edit]

External links[edit]