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Amaya to Relocate, Change Name

Amaya to Relocate, Change Name

Canada’s Amaya Gaming announced plans to change its corporate name to the Stars Group Inc., reflecting its most prominent business unit as parent company of PokerStars, the world’s largest operator of online gaming sites. The name change comes as the company prepares to move its headquarters from Montreal, where it has been based since 2004, when the company was founded by former CEO David Baazov, to Toronto.

The change of name and location is subject to approval of Amaya shareholders, who meet next month. In a conference call, CEO Rafi Ashkenazi said the changes are meant to embrace the company’s future and to recognize the loyalty customers have shown to the PokerStars brand. He also said the change will come after the company names a new chief financial officer to replace the retiring Daniel Sebag.

The changes reflect an effort by the company to redefine itself following a difficult year in which Baazov stepped down amid an insider trading scandal. Ashkenazi has since worked to improve the management team of the company and to pay down debt.

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