PokerStars’ parent business Amaya has announced it intends to take the name of its most valuable child. The online gaming company that’s home to the world’s poker site that is largest will call itself ‘The Stars Group Inc.’
Amaya are going to Toronto and changing its name, marking a brand new era in the organization’s history, one with distance from the beleaguered founder and former chairman and CEO David Baazov.
The move seeks to capitalize on the brand recognition of its most famous asset, and, possibly, distance itself from bad press surrounding previous chairman and CEO David Baazov, that is embroiled in legal troubles.
News regarding the impending name-change was announced as Amaya delivered its Q1 report that is financial. It revealed that the company would be relocating from Montreal to Toronto, a move that may let it ‘more efficiently manage its business affairs.’
The company reported strong results in Q1, with overall revenue up 10 percent in the matching duration final year, to $317.3 million. Online poker now accounts for just 69 % of the company’s revenue, as opposed to 75 percent an ago year.
This shift reflected the company’s growing diversification, through its online casino operations and BetStars sports betting platform, more so than weakness in the poker market.
‘We continued our momentum within the quarter that is first we execute on our strategy and reinforce t